FOREX-Dollar Hits 16-Month High on Euro and Swiss Franc as US Yields Top 5%
The greenback gained as traders awaited inflation and jobs data, while the 10-year Treasury yield stayed above 5%, traders said.
7 Articles
7 Articles
The dollar index, which measures the performance of the US currency against other currencies, where the euro is included, has reached its highest level since July.
The dollar started the morning stronger on Wednesday, with the US currency nearing its highest level this year against the euro but weakening against the yen, while the Chinese yuan is on track for its seventh consecutive quarter of gains. Highlights of the day include European inflation data and US PCE inflation, which could also influence the Fed's next steps. The forint strengthened against both the euro and the dollar on Wednesday morning, b…
The dollar approached its highest levels against the euro this year, driven by strong growth in the US economy and rising interest rates. The euro, meanwhile, remains under pressure due to energy supply concerns and debt anxieties in Europe.
Dollar hits 16-month high on euro and Swiss franc as US yields top 5%
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