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Dollar climbs with oil surge and higher yields amid Middle East risk

USD/JPY hits fresh 40-year highs near 163.6 as 10-year U.S. yields rise to 4.685% and European bond yields push to multi-year levels.

Reported · Written up by our desk · Major Pairs

Forexlive reports that renewed Middle East tensions are driving risk aversion, pushing investors toward the U.S. dollar and lifting bond yields across Europe and the United States.

Oil prices extended gains, with WTI up 4.7% to $90.95 and Brent up 5.1% to $98.91, while traders also marked higher rates, including a U.S. 10-year yield rising 3 basis points to 4.685%.

That rate backdrop translated into currency moves, with EUR/USD down 0.2% to 1.1385 and USD/JPY rising 0.3% to 163.58 near 40-year highs.

Equities slipped alongside the negative risk tone, with Europe’s DAX down 0.7% and CAC 40 down 1.1%, while gold fell 1.1% to $4,081 and silver dropped 2.3% to $58.33.

Latest closeGold $4,117.00 ▲1.1%|Silver $59.51 ▲1.1%|WTI crude $87.52 ▲3.1%

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