The US dollar index hit a 5-week high on Monday, after another US Federal Reserve official indicated that monetary tightening may continue to be strong ahead of this week's Jackson Hole keynote.
The euro fell to a 5-week low after Russia announced a 3-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month, exacerbating the region's energy crisis, CNBC Arabia reported.
The Chinese yuan fell to its lowest level in nearly two years after the central bank cut key lending rates, adding to a series of monetary easing measures aimed at supporting the economy suffering from restrictions (Covid-19) and the real estate crisis.
The dollar index, which measures the currency's performance against 6 major currencies including the euro, rose to 108.26 for the first time since July 15 and last rose 0.074 percent to 108.23.
The dollar rose against the yen, which is considered highly sensitive to US yields, to 137.40 Japanese yen, its highest level since July 27.
The dollar rose to 6.8308 yuan in internal trading for the first time since September 2020 after the People's Bank of China cut its key interest rates for 1-year and 5-year loans as widely expected.
Against the offshore yuan, the dollar reached 6.8520, also its highest level since September 2020.
Meanwhile, the euro fell to its lowest level at $1.0026 for the first time since July 15 before trading 0.13% lower at $1.0027.
The British pound fell 0.23% to $1.1805, approaching a 5-week low last Friday at $1.17925.
