The dollar rose to a 20-year high on Monday as a combination of rising US Treasury yields and closings in China boosted the dollar’s safe-haven appeal.<\/p>\n\n\n\n
Against a basket of major currencies, the dollar index exceeded 104.19 for the first time since July 2002, continuing its rise by nine percent this year.<\/p>\n\n\n\n
The dollar’s rally was supported by a relentless rise in US Treasury yields. On Monday, yields on the benchmark 10-year bond hit 3.18 percent for the first time since November 2018. It has doubled in the past two months.<\/p>\n\n\n\n
The pace of the Fed’s rate hike cycle is much higher than its counterparts, the Bank of England and the European Central Bank.<\/p>\n\n\n\n
Money markets expect the US to raise interest rates by another 200 basis points over the remainder of the year, raising benchmark interest rates to nearly 3 percent.<\/p>\n\n\n\n
The growth-sensitive Australian dollar fell 1 percent to $0.6999, its lowest since February. The British pound and the New Zealand dollar reached their lowest levels in 22 months, while the euro and the yen did not register a significant increase from the significant declines reached recently.<\/p>\n\n\n\n
Cryptocurrencies pulled back on a rally away from risky assets, with bitcoin near its lowest level this year at $33,500 while Ether, which fell four percent on Sunday, was at $2,440.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar rose to a 20-year high on Monday as a combination of rising US Treasury yields and closings in China boosted the dollar’s safe-haven appeal. Against a basket of major currencies, the dollar index exceeded 104.19 for the first time since July 2002, continuing its rise by nine percent this year. The dollar’s rally …<\/p>\n","protected":false},"author":9,"featured_media":62120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[7211,6877,6928,6882],"class_list":["post-65078","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=65078"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65078\/revisions"}],"predecessor-version":[{"id":65122,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65078\/revisions\/65122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62120"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=65078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=65078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=65078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}