Dollar hits 17-month high amid euro decline
The dollar experienced an upward surge to reach its highest level in 17 months, continuing its gains for the third consecutive year amid a decline in the global bond market and rising borrowing costs. There are also concerns about inflation due to increasing oil prices. The yield on the 10-year U.S. Treasury bonds rose to 5.344%, the highest since 2002, applying additional pressure on interest rates worldwide. The euro dropped to approximately 1.1237 dollars, nearing its lowest level since May 2025, while other currencies such as the yen, Australian dollar, and New Zealand dollar were also affected. The dollar's strength was reinforced at the euro's expense due to political and financial worries in Europe, coupled with French bond yields reaching their highest point in 14 years.
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