Market News
Dollar up as US 10-yr yield hits 8-1/2 month high on tariff report - REUTERS
Summary
- Dollar index rises along with U.S. yields
- Dollar/yen within striking distance of 160
- Pound tumbles to 8-1/2-month low
NEW YORK, Jan 8 (Reuters) - The U.S. dollar rose for a second straight session on Wednesday as U.S. bond yields continued their recent advance, following a report that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff program.
The yield on the benchmark 10-year U.S. Treasury note hit 4.73%, its highest level since April 25, after CNN reported Trump is considering declaring a national economic emergency in order to provide legal footing for a series of universal tariffs on allies and adversaries.
