Dollar hits two-week high on oil surge and rate bets
The dollar traded near a two-week high on Tuesday as surging oil prices lifted Treasury yields and reinforced expectations for a Federal Reserve rate hike. Markets have priced in a near certainty of an increase. Meanwhile, other major currencies softened against the greenback.
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The dollar traded near a two-week high on Tuesday morning as surging oil prices lifted Treasury yields and reinforced expectations that the Federal Reserve will raise interest rates. The dollar index hovered at 99.55, supported by climbing borrowing costs and declining equity markets.
