Dollar Gains on Rising US Yields, British Inflation Lifts Pound
The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10 percent in March and put more pressure on the Bank of England to keep raising rates. The dollar index, which tracks the currency against a basket of its peers, was up 0.206 percent as markets turn more skeptical that the Federal Reserve will cut rates later this year. The yield on two-year Treasury notes, which are sensitive to expectations for the U.S. central bank’s monetary policy, rose 7 basis points to 4.269 percent after hitting a...
Source: news18.com
