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Dollar strengthens as oil risk and 10-year yields pressure markets

Brent briefly topped $105 and the US 10-year Treasury yield returned to about 5.35%, levels last seen in 2002.

Reported · Written up by our desk · Major Pairs

Global risk sentiment weakened on Thursday as Brent briefly pushed above $105 on renewed reports of possible US military action against Iran, reviving supply concerns, according to Action Forex.

At the same time, the US 10-year Treasury yield returned to around 5.35%, close to levels last seen in 2002, and US equity futures fell while Asian stocks were broadly lower.

Action Forex said the US dollar was broadly the strongest major, while the yen and Swiss franc were relatively resilient.

The outlet also warned that markets may be increasingly vulnerable if both long-term yields and oil prices rise together, noting that strong profits have helped equities absorb the bond selloff so far.

Latest closeBrent $100.73 ▼1.5%

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