Urgent.. The dollar rises to its highest level in over two months.

The US dollar recorded a strong increase during trading on Monday, due to the sharp rise in US Treasury yields, which resulted from a weak risk appetite at the start of the week’s trading.

In this regard, long-term US Treasury yields saw a significant jump of more than 2%, which bolstered the buying of the US dollar in the foreign exchange market; as the yield on 10-year US Treasury bonds surged by about 2.62% to reach 4.543%, while the yield on 20-year US Treasury bonds rose by 2.24% to record 4.543%. Additionally, the yield on 30-year US Treasury bonds increased by approximately 2.25% to 4.481%.

A strong aversion to risk loomed over today’s trading, as US stocks clearly declined in favor of acquiring safe-haven commodities and currencies, including the US dollar, amid tensions in the Middle East alongside increasing uncertainty regarding the upcoming US presidential elections scheduled for November 4-5.

The US Dollar Now

In terms of today’s trading, the dollar index – which measures the performance of the greenback against a basket of other major currencies – recorded an increase of about 0.47% to reach approximately 103.954 points, marking the highest level for the dollar index since early August.