US Dollar Steady Amid Rising Oil Prices and Bond Selloff
- The dollar index is approximately 99.325, with the euro at $1.1621 and sterling at $1.3320.
- Brent crude futures increased over 1%, surpassing $110 per barrel due to Middle East tensions affecting the Strait of Hormuz.
- US Treasury yields rose, with the 10-year yield at about 4.631% and the 2-year yield at around 4.102%.
- CME FedWatch data indicates a more than 50% probability of a Fed rate hike by December.
- Barclays analysts highlight deteriorating conditions for risk assets and bonds, suggesting continued dollar strength.
The US dollar remains stable while Brent crude prices rise above $110 per barrel amid tensions in the Middle East, impacting global oil supply routes through the Strait of Hormuz. Simultaneously, US Treasury yields increase as market conditions suggest potential further strengthening of the dollar.
Source (3.2)https://cryptobriefing.com/us-dollar-steady-oil-bond-selloff/?rand=59535
