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The U.S. dollar index rose 0.37%, supported by a 5 basis point increase in the 10-year Treasury yield to a 1.5-year high and oil prices surging more than 5%. Additional factors cited include U.S. unemployment claims data that came in slightly stronger than expected and reported safe-haven demand linked to Houthi missile and drone strikes on Saudi tankers in the Red Sea, along with related shipping threats.
The euro declined 0.39% against the dollar, while markets priced in a 36% probability of a 25 basis point rate hike at the next FOMC meeting.
Location: Strait of Hormuz