NEW YORK, Aug. 14 (Xinhua) — The U.S. dollar rose on Monday, as larger U.S. treasury yields boosted the American forex.
The dollar index, which measures the dollar in opposition to six main friends, elevated 0.34 p.c to 103.1898 in late buying and selling, hitting its highest degree in additional than a month.
Analysts mentioned buyers purchased the dollar as shelter from issues concerning the well being of the worldwide economic system. The benchmark U.S. 10-year Treasury yields closed to 4.20 p.c on Monday, a degree not seen since November 2022, boosting the dollar.
In late New York buying and selling, the euro was right down to 1.0904 U.S. {dollars} from 1.0950 {dollars} within the earlier session, and the British pound fell to 1.2675 U.S. {dollars} from 1.2696 {dollars} within the earlier session.
Traders braced for attainable Japanese authorities intervention after the yen hit its lowest degree on Monday since November. The U.S. dollar purchased 145.5120 Japanese yen, larger than 144.9670 Japanese yen of the earlier session.
“Lack of verbal intervention so far suggests that the patience level of Japanese authorities may have gone up after the latest tweak to monetary policy and the disinflation trends in the United States,” mentioned Charu Chanana, a market strategist at Saxo Markets.
The U.S. dollar elevated to 0.8790 Swiss francs from 0.8763 Swiss francs, and it was as much as 1.3469 Canadian {dollars} from 1.3449 Canadian {dollars}. The U.S. dollar fell to 10.8109 Swedish krona from 10.8314 Swedish krona.