- The dollar rally extends its longest winning streak since early 2025 as soaring oil prices weigh on currencies of energy-importing nations.
- Brent crude futures jumped 4.2% to above $104 a barrel on persistent Middle East supply concerns and hurricane disruptions to US production.
- The 10-year Treasury yield climbed to 5.3%, close to its highest level since 2002, raising inflation and rate-hike concerns.
- Global inflation fears persist as oil prices rise, sustaining the dollar bid.
Quotes
“Higher oil prices can add to inflationary pressure and strengthen expectations for higher interest rates.”