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Dollar hits 17-month high
The US dollar rose to its highest level in 17 months and continues to make gains for the third consecutive week, driven by a collapse in the bond market and rising borrowing costs worldwide, amid fears of inflation caused by rising oil prices. The yields on 10-year US Treasury bonds hit a record high of 5.344%, the highest since 2002, ahead of the US jobs report that will influence future monetary policies. This increase in yields reflects investor concerns over persistent inflation and escalating financial risks. Meanwhile, the euro is affected by financial worries in France, and the dollar faces pressure against other currencies, with growing fears that the Federal Reserve's tightening cycle may come to an end.
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