Full Breakdown
Dollar Hits 17-Month High Against the Euro
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Data & Statistics
- The euro slipped below $1.1215, its lowest level since May 2025, and was last quoted at $1.12433, down about 0.8%.
- Benchmark U.S. 10-year Treasury yields reached their highest point since 2002, reported at 5.237% by one source and 5.239% by another.
- French government bond spreads widened to a 14-year high, while German yields also faced pressure.
- The dollar index rose 0.51%–0.69% during the day, marking its strongest level since April 2025.
- Other major currencies weakened: the yen fell to 158.07 per dollar, the pound held near $1.32, and the Australian dollar dropped to a three-month low of $0.69040.
Official Statements & Responses
He added that market participants expect further tightening from central banks, notably the Federal Reserve.
Amo Sahota, director at Klarity FX, described the dollar’s rise as driven by “a new little narrative” that has repeatedly boosted the currency, noting the current “panic in European markets” as the most troubling factor.
Conflicting Reports & Gaps
Sources differ on the exact level of the U.S. 10-year Treasury yield on the day: Reuters cites 5.237%, while CNBC reports 5.239%. No additional clarification is provided in the available reports.
Verbatim Quotes
- “Higher yields have been driven by a confluence of factors, in particular concern about fiscal policy including some weakness in French bond markets, which may be spilling over into global markets, as well as continued concern around energy prices and higher inflation," said Brian Daingerfield, head of G10 FX strategy at NatWest Markets.” — Brian Daingerfield, head of G10 FX strategy at NatWest Markets
- “For several weeks, this increase in the US dollar has been coming through and every now and then there's ?a new little narrative, which gives it a little boost,” — Amo Sahota, director at Klarity FX