Dollar near twoweek high as oil surge lifts yields, Fed hike bets

Image for article Dollar near twoweek high as oil surge lifts yields, Fed hike bets
News Source : The Times of India

News Summary

  • Strengthening towards a two-week high, the dollar gained ground as oil prices jumped and Treasury yields rose.
  • With a significant rate hike from the Federal Reserve looming this week, market sentiment turned cautious.
  • Stock markets experienced declines, dampening risk appetite and bolstering the dollar’s ascent.
  • The surge in oil prices was driven by conflict in Saudi Arabia and delays in Gulf-Iran discussions.
  • There are 10 other possible chokepoints for the global economy, including India Bigger or Better.
The dollar inched up to trade near a twoweek high on Tuesday as surging oil prices lifted Treasury yields and reinforced expectations that the Federal Reserve will raise interest rates this week.

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