The price of the US dollar recorded its highest rise in a year against the major currencies with expectations that the Federal Reserve will gradually reduce stimulus measures from November, and the commodity-linked Australian dollar benefited from the rise in iron ore prices.
According to Arabiya Net, the dollar made significant gains in the last two trading sessions, amid fears that the Federal Reserve will withdraw its support for the economy at a time when global growth is slowing and inflation is rising. The rise in Treasury yields contributed to supporting the dollar.
The dollar index, which measures the performance of the US currency against six major currencies, recorded 94.327, unchanged from its level on Wednesday, when it reached 94.435 for the first time since late September of the year. past.
US 10-year Treasury yields were at 1.5341%, near their highest level since mid-June, which hit 1.5670% on Tuesday.
The dollar recorded 111.97 yen, little changed from its price yesterday, which reached 112.05 yen for the first time since February 2020. The yen is on track to record its worst monthly performance since March .
The euro price settled at $1.15995, near its 14-month low of $1.15895, which it recorded on Wednesday.
The Australian dollar rose 0.5% to $0.7206, after falling 0.9% overnight, as iron ore prices rose ahead of a holiday in China, Australia's largest trading partner.
The pound sterling rose 0.1% to $1.34357, but remained near a nine-month low of $1.3412 hit last night amid fears of rising natural gas prices.
In the cryptocurrency market, Bitcoin rose 5% to $43,567 and Ether rose 6.4% to $3,034.09.
The two currencies are down between 20 and 27 percent from their September peaks.
