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Dollar near two-week high as oil surge lifts yields, Fed hike bets
HONG KONG: The dollar inched up to trade near a two-week high on Tuesday as surging oil prices lifted Treasury yields and reinforced expectations that the Federal Reserve will raise interest rates this week. It also gained support as risk appetite weakened after stock markets tumbled, with AI-related shares under pressure after industry leaders called for slower development to contain potential threats to humanity. Markets now see a Fed hike on Wednesday as a near certainty, with CME’s FedWatch tool pricing in a roughly 93% chance of an interest-rate increase, which would be the first in mo...
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