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Dollar Gains on Inflation and Market Turbulence
The US dollar rose today after a sharp decline last week due to interventions by the U.S. Treasury aimed at stabilizing bond prices. This came under pressure from rising Treasury yields, which reached their highest levels in over 19 years, especially with growing inflation concerns driven by rising oil prices and government debt exceeding $40 trillion. At the same time, bond yields retreated today, while the Federal Reserve announced during the Jackson Hole conference that it is waiting for more data on inflation and interest rates, influencing the performance of the US currency, which increased by 0.2% to 99.01 points against the major basket of currencies.
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