Dollar drops as oil and yields fall
The exchange rate of the US dollar declined slightly due to decreased demand for safe-haven assets, following a sharp rise in oil prices and US 10-year Treasury bond yields, which reached their highest levels since November 2023. Markets showed a shift toward equities as bond yields fell, leading to higher borrowing costs and negative impacts on consumers and businesses, amid ongoing concerns over inflation and rising debt levels. Investors are also awaiting the upcoming US employment data scheduled for Friday, after reports indicated a decrease in private sector job growth to its lowest level since January, despite strong performance in manufacturing orders, amid escalating tensions between the United States and Iran.
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