Dollar hits one-year high as US Treasury yields soar

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Has risen dollar to a one-year high on Tuesday, on expectations that the US Federal Reserve will announce an easing of its massive bond-buying program next month, while concern about sharp increases in energy prices prompted investors to seek safety in the greenback.

Revenues jumped US Treasuries For two years, to its highest level in more than 18 months, as investors sold US debt, expecting that rising energy prices would fuel inflation and increase pressure on the Federal Reserve to take action sooner than expected.

 

Investors are awaiting US consumer price index data due on Wednesday and retail sales figures on Friday for more clues regarding when the US central bank may begin to scale back its stimulus measures.

The dollar index, which measures the value of the US currency against a basket of six competing currencies, jumped to 94.557, its highest level since September 25, 2020.

Source: Reuters

The article The dollar hits a one-year high as US Treasury yields soar was written in Al Borsa newspaper.