Dollar edges up, hits highest level in more than 4 months against euro
The U.S. dollar edged up on Tuesday, touching a more than four-month high against the euro, as investors speculated further over whether recent strong jobs data could push the Federal Reserve to soon start tapering its bond-buying program.
The U.S. dollar index, which measures the greenback against a basket of currencies, rose for a third straight session and hit its highest level in about three weeks. It was last up 0.1% on the day.
In cryptocurrencies, bitcoin was down 1.7% at $45,530.05, having hit a three-month high of $46,759 overnight. Ether was down 0.9% at $3,139.15.
The dollar has risen recently with U.S. bond yields as the prospect of reduced Fed stimulus weakened bond prices.
The dollar index reached an 18-day high of 93.102 on Tuesday, while the euro hit a new four-month low against the dollar, with the pair changing hands at $1.1716.
TREASURIES-Yields rise; three-year auction sees solid demand
U.S. Treasury yields hit their highest levels since mid-July on Tuesday, rising on the long end of the curve after the U.S. Senate passed a massive infrastructure bill, while a three-year note auction produced strong results.
The benchmark 10-year Treasury yield reached 1.349%, its highest since July 15, and last was up 3 basis points at 1.3473%. The 30-year bond yield, which rose as high as 1.992%, rose 2.9 basis points to 1.9895%.
The 10-year yield, up for a fifth straight session on Tuesday, was set for its longest daily rising streak since late
January-early February. That sharp climb took yields from 1% to 1.776% by the end of March.
Reference: Reuters
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