NewzThe US dollar traded near a two-week high on Tuesday, reaching an index level of 99.55 in Hong Kong trading. Concurrently, the euro weakened slightly to US$1.1538, and sterling softened to US$1.3494.
The currency movement was driven by a surge in global oil prices, which pushed up Treasury yields. This macroeconomic shift reinforced market expectations that the Federal Reserve will proceed with interest rate hikes.
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