The U.S. dollar climbed to a fresh 20-year high on Monday as bond yields rose amid rising expectations the Federal Reserve will aggressively tighten its policy to combat soaring inflation.
The yield on U.S. 10-year bonds rose to 3.18% for the first time since November 2018.
A sell-off in global stock markets due to worries about slowing growth contributed as well to the greenback's uptick.
The dollar index rose to 104.19 in the Asian session, but turned a bit sluggish and kept moving in and out of positive territory thereafter. It was last seen hovering around 103.70, up marginally from the previous close.
For comments and feedback contact: editorial@rttnews.com
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.