Dollar Eyes Best Week as Yields Rise and Yen Nears 160
The US dollar is on track for its strongest weekly gain in two months driven by rising Treasury yields and hawkish Federal Reserve expectations. Meanwhile, the Japanese yen hovered near 160 per dollar keeping traders alert for potential intervention.
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The dollar tracked toward its strongest weekly rise in two months on Friday, holding near a 19-month high as rising bets on a larger Federal Reserve rate hike lifted United States Treasury yields. The move reflects surging short-end yields and stronger inflation data that have reshaped expectations for the upcoming FOMC meeting. Investors are aggressively repricing rate trajectories across major currency pairs.
