Currency Buzz: Dollar Index Regains 105 Mark

12 Aug 2022 , 02:45 PM

Dollar is seen rebounding on Friday following two day sell-off and tracking a sharp bounce back in US treasury yields overnight. US benchmark treasury yields rose more than 3% on Thursday after reports that San Francisco Fed President Mary Daly said she was open to a 75 basis point rate hike in September, noting that inflation still remained around 40-year highs. Chicago Fed President Charles Evans also said this week that the Fed would need to raise rates to at least 3.25% to 3.5% by the year-end, to combat inflation. The dollar index that measures the greenback against a basket of currencies was up 0.24% at 105.25. Powered by Commodity Insights