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Dollar steadies as Treasury yields rise and geopolitics stay tense
The US Dollar Index briefly pushed above 99.60, while EUR/USD retreated below 1.1600 and USD/JPY moved back toward the 160.00 level.
The US dollar regained ground on Tuesday after an early weekly dip, with the move linked to a broader rebound in US Treasury yields and ongoing geopolitical tensions, FXStreet reported.
In the majors, the US Dollar Index recovered a large share of Monday’s losses and briefly surpassed 99.60. EUR/USD traded defensively, slipping back under 1.1600 despite flash inflation data in the euro area that revived speculation about an ECB rate hike in September.
GBP/USD resumed its slide, returning to the low 1.3500s after Monday’s optimism faded. USD/JPY challenged recent tops, moving past the 160.00 hurdle and picking up again after a Monday setback, FXStreet said.
Looking ahead, the calendar highlighted US labor related and other releases, while later in the week euro zone and producer price data were due on September 3. In commodities, WTI added to Monday’s gains, reaching fresh two-month highs just below $90.00 per barrel amid flare ups in US-Iran tensions and supply concerns, and gold corrected as the firmer dollar coincided with higher US yields.
Routing note: Category and subcategory chosen to match the story’s currency-market focus.
Latest closeGold $4,376.80 ▼1.2%|WTI crude $90.79 ▲5.9%|EUR/USD 1.160 ▼0.2%