The U.S. dollar scored solid gains against some of its peers on Monday as Treasury yields rose amid expectations of aggressive rate hikes and policy tightening by the Federal Reserve.
The dollar index, which surged to 99.37, pared some gains subsequently and is hovering around 99.15, still up nearly 0.4% from the previous close.
The 10-year US Treasury yield climbed above 2.5%, its highest level in nearly 3 years, as rising inflation risks fueled expectations of aggressive policy tightening.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.