NEW YORK, Oct. 3 (Xinhua) — The U.S. dollar elevated in late buying and selling on Tuesday, amid rising U.S. Treasury yields and expectations that the Federal Reserve might preserve rates of interest larger for longer.
The dollar index, which measures the buck in opposition to six main friends, rose 0.09 % at 107.0062 in late buying and selling, hitting its strongest degree intraday since Nov. 22.
The U.S. Treasury yields climbed to their highest ranges in 16 years on Tuesday, placing extra upward stress on the buck.
Traders have been paying shut consideration to the yield on the 30-year Treasury bond, which was up 12.4 foundation factors in current commerce at 4.899 % and hit its highest degree since late 2007, FactSet information confirmed.
In late New York buying and selling, the euro was right down to 1.0473 U.S. {dollars} from 1.0492 {dollars} within the earlier session, and the British pound was right down to 1.2085 U.S. {dollars} from 1.2105 {dollars}.
The Canadian dollar weakened to a six-month low in opposition to its U.S. counterpart on Tuesday as surging long-term borrowing prices spooked buyers and regardless of hawkish feedback from Bank of Canada Deputy Governor Nicolas Vincent.
The U.S. dollar elevated to 1.3710 Canadian {dollars} from 1.3673 Canadian {dollars} within the earlier session.
Japanese Finance Minister Shunichi Suzuki earlier Tuesday warned that authorities have been watching the foreign money market carefully and stood prepared to reply, “all measures are on the table with a high sense of urgency.”
The U.S. dollar purchased 148.9180 Japanese yen, decrease than 149.7380 Japanese yen of the earlier session.
The U.S. dollar elevated to 0.9211 Swiss francs from 0.9169 Swiss francs, and it climbed to 11.0918 Swedish krona from 11.0539 Swedish krona.