Investing.com – The dollar edged higher against a currency basket on Tuesday and the safe haven yen remained steady in cautious trade as rising U.S. bond yields and concerns over the outlook for global growth weighed on risk appetite.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.17% to 95.60 by 03:57 AM ET (07:57 AM GMT), not far from a six-week high of 95.78 reached last week.
Demand for the dollar was underpinned as the move higher in U.S. Treasury yields continued, albeit at a slower pace than last week, sending the yield on 10-year Treasury notes to a fresh seven-year peak.
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