NEW YORK: The dollar was on track for its strongest weekly rise in two months on Friday, holding near a 19-month high as rising bets on a larger Federal Reserve rate hike lifted US Treasury yields, while the yen hovered around 160 per dollar and kept traders alert for possible intervention from Tokyo.
Hawkish comments from Federal Reserve officials and this week’s stronger-than-expected US inflation data have left traders weighing the prospect of a larger-than-usual Fed rate hike next month. Two-year Treasury yields have risen around 32 basis points so far this week to around 4.84 percent, on course for their biggest weekly jump since April 2025.
The euro was down 0.23 percent at USD1.103, after hitting its lowest level against the dollar since April 2025. It was on course for its fourth straight week of losses.
The dollar was up 0.28 percent to 0.837 against the Swiss franc and was set to snap two straight weeks of losses.
Comments