The dollar rose on Wednesday as upbeat economic data and signs of strengthening inflation helped the greenback gain ground against a basket of world currencies.
The dollar rose on Wednesday as upbeat economic data and signs of strengthening inflation helped the greenback gain ground against a basket of world currencies.
Dollar hits 4-month high against yen as yields jump on inflation bets
Reuters
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Boosting the dollar was soaring US bond yields, with the10-year yield rising to 1.331 per cent
The dollar advanced on Wednesday,hitting a four-month high against the yen as US bond yields jumped on the prospects of further economic recovery and a possible acceleration in inflation.
Bitcoin held firm, a day after the cryptocurrency hit $50,000 for the first time, bringing its total market capitalisation to more than $900 billion, as traders bet on its further acceptance among major companies.
The dollar s index against six other major currencies jumped back to 90.681, from a three-week low of 90.117 it hit on Tuesday.
The dollar rose against low-yielding currencies on Wednesday, reaching a five-month high against the yen, as U.S. bond yields jumped on the prospects of further economic recovery and a possible acceleration in inflation. Bitcoin set a record high of $51,300, a day after the cryptocurrency rose to $50,000 for the first time. That brought its .