The US dollar rises as government interest rates rise

The US dollar rises as government interest rates rise

NEW YORK, Dec. 28 (Xinhua) — The U.S. dollar appreciated in late trade on Wednesday amid upward momentum in Treasury yields.

The dollar index, which measures the greenback against six major peers, rose 0.31 percent to 104.4770.

In late New York trading, the euro fell to US$1.0615 from US$1.0645 in the previous session, and the British pound fell to US$1.2027 from US$1.2031 in the previous session.

The US dollar bought 134.38 , higher than 133.46 Japanese yen from the previous session. The dollar fell to 0.9287 Swiss francs from 0.9291 Swiss francs. The US dollar rose to 1.3599 Canadian dollars from 1.3524 Canadian dollars, and it increased to 10.4682 Swedish kronor from 10.4631 Swedish kronor.

The above market moves came as US Treasury yields rose. The benchmark U.S. 10-year yield rose about 3 basis points to 3.89 percent on Wednesday afternoon, while the yield on the 30-year Treasury note rose to 3.98 percent. A rising yield is the dollar bullish, while a falling yield is bearish.

Source: sn.dk


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