Dollar strengthens as U.S. 10-year yield reaches 4.73%

The dollar strengthened broadly in New York foreign exchange on the 21st as the U.S. 10-year Treasury yield climbed to the 4.73% range. EUR/USD stood at $1.1673 at 24:00, down roughly $0.0018 from $1.1691 at 22:00, after briefly falling to $1.1669. The Dollar Index, which measures the dollar against major currencies, rose as high as 98.91. The preliminary August Eurozone consumer confidence index came in at -15.5, ahead of the -16.0 market consensus, but had limited impact as higher U.S. yields continued to drive dollar demand. Dollar-yen rose to 158.95 yen from 158.74 yen, briefly reaching around 159.01 yen, while EUR/JPY edged down to 185.55 yen. Market attention remains focused on U.S. interest-rate developments, with traders watching whether dollar-yen can break above 159 yen and potentially move toward 160 yen, while EUR/JPY may remain directionless because of opposing moves in its component pairs.

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