Currency Buzz: Dollar Index Up As US Treasury Yields Rise

1 Jun 2022 , 12:40 PM

The US dollar index is hovering around 102 levels on Wednesday, tracking higher benchmark treasury yields. The dollar index, which measures the greenback against a basket of currencies is quoting at 101.98, after spiking above 102 mark during the day. Dollar tracked benchmark treasury yields that were hovering around 2.87% after U.S. President Joe Biden stressed that he respects the central banks independence but also affirmed a ?laser focus on addressing inflation? ahead of the November midterms. Besides, Fed Governor Christopher Waller said yesterday that the central bank should be prepared to raise interest rates by 50 basis points at every meeting from now on until inflation is decisively curbed. Powered by Commodity Insights