Doha: The dollar held near a two-week high on Wednesday as renewed hostilities in the Middle East drove oil prices higher, reviving inflation concerns and adding upward pressure on bond yields. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.11% to 99.79, reaching its highest point since August 17.
According to Qatar News Agency, the euro was down 0.13% at $1.1577, the British pound fell 0.09% to $1.3503, and the Australian dollar also decreased by 0.04% to $0.7141. The Japanese yen remained steady against the dollar at 160.28 per dollar, after earlier weakening to its lowest since July 31.
The New Zealand dollar fell 0.8% against the US currency to $0.5844, marking its lowest level since August 13, even after the Reserve Bank of New Zealand raised its official interest rate by 25 basis points to 2.75%. The benchmark 10-year US Treasury yield rose to 4.81%, its highest level since November 2023.
