London: The dollar steadied against most major currencies today as renewed Middle East tensions pushed oil prices higher and a global bond sell-off reinforced expectations of interest rate hikes, while persistent yen weakness kept traders on alert for possible intervention.
According to Oman News Agency, the euro traded at $1.1621, while sterling stood at $1.3320, each edging down about 0.03 percent. The risk-sensitive Australian dollar fell 0.2 percent to $0.7132, while the New Zealand dollar was little changed at $0.5837. The dollar index, which tracks the US currency against a basket of major rivals, held firm at 99.325.
Oil prices rose sharply, with Brent crude futures climbing more than one percent to exceed $110 a barrel. The benchmark 10-year US Treasury yield jumped to 4.6310 percent, while the two-year yield peaked at 4.1020 percent, with both near their highest levels since February 2025.
Investors are awaiting the G7 finance ministers and central bank governors meeting in Paris later today and tomorrow to discuss how to secure a lasting end to the Iran war. The yen traded at 158.97 per dollar, its weakest since 29 April 2026, keeping traders on high alert for possible intervention. The offshore Chinese yuan weakened to 6.8150 per dollar.