Dollar Gains as Bond Yields Hit 5%
The dollar rose slightly, approaching a two-week high, supported by rising oil prices and U.S. Treasury yields climbing to 5% for the first time since October 2023, with a 93% likelihood of a rate hike at the Federal Reserve's upcoming meeting. The increase in oil prices and a decline in risk appetite due to warnings from technology sector leaders about security threats have bolstered the dollar's strength. Meanwhile, the dollar index reached 99.55, and the euro and British pound fell slightly against the dollar. Markets are awaiting the Federal Reserve's decision to raise interest rates tomorrow, following a strong jobs report and inflation data from August, which has heightened expectations of an interest rate hike for the first time in over three years.
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