© Reuters. Dollar soars as Treasury yields take off
- U.S. Treasury yields are at their highest in almost 12 weeks, with the 10-year at 2.37%, pushing the dollar half a percent higher against a basket of currencies.
- Firming expectations of a third interest rate hike this year, data pointing to steady U.S. growth and talk of a potentially more hawkish successor to Fed Chair Janet Yellen all appear to be contributing to the movement.
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- Now read: 3 Reasons Why Bounce In U.S. Dollar Is (Finally) Due