Dollar scales three-month peak on yields boost
TLT•The dollar touched a more than three-month high on Thursday as rising U.S. Treasury yields supported it, despite reduced expectations for a Federal Reserve rate hike this month. The euro fell 0.11% to $1.1317, while the dollar rose 0.54% against the yen to 158.29.
1. Yields support dollar
The dollar reached its highest level in more than three months on Thursday as U.S. Treasury yields extended their rise. August U.S. inflation came in below expectations, reducing bets on a Federal Reserve rate hike this month, while 10- and 30-year Treasury yields remained near new highs.
2. Major currencies fall
The euro slipped 0.11% to $1.1317 in Asia after losing nearly 2.5% in September, weighed down by Europe's debt and energy worries. The dollar rose 0.54% against the yen to 158.29; the Australian dollar fell to a two-month low of $0.6940, and the New Zealand dollar reached its lowest level since November 2025 at $0.5618.
