Dollar Index Spikes To Two Month High As Bond Yields Rally

Published on Aug 14, 2023 11:56

The US dollar index is holding onto its recent gains impressively as markets focused on the latest inflation readings. The US Labor Department said its producer price index for final demand rose by 0.3 percent in July following a revised unchanged reading in June. The report also showed the annual rate of producer price growth reaccelerated to 0.8 percent in July after slowing to just 0.2 percent in June. The US dollar index has approached near two month high of 102.80 today amid sustained pullback in risky assets. The US treasury yields continue to edge higher following last week`s CPI and PPI readings with the 10 year bond yield currently quoting near eight month high of 4.16%.