Dollar hits two-month peak on inflation concerns

The US dollar experienced a significant rise, reaching its highest level in two months, supported by strong manufacturing data that heightened inflation concerns. This prompted investors to anticipate an interest rate hike at the upcoming Federal Reserve meeting, leading to declines in major currencies such as the euro and the British pound against the dollar. Additionally, the yields on 5-year Treasury bonds rose above 5% for the first time since 2007, amid expectations of more aggressive monetary policies.

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