Dollar Falls on Fed Rate-Rise Doubts, Treasury Yields Rise on Higher Oil Prices
Dow Jones08-14 19:15
1115 GMT - The dollar stays lower following a paring of Federal Reserve interest-rate rise expectations while Treasury yields remain higher as oil prices rise on ongoing U.S.-Iran tensions. The market is no longer fully pricing in an Fed rate rise this year, with 22 basis points priced in by December after recent weak labor market data and soft inflation prints, LSEG data show. Along with higher oil prices, longer-dated Treasury yields remain elevated amid concerns about fiscal borrowing and structurally higher demand for capital, Capital.com's Daniela Hathorn says in a note. The DXY dollar index falls 0.3% to 99.700. The 10-year Treasury yield rises 1.6 basis points to 4.657%, according to Tradeweb.
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