The U.S. dollar has strengthened for a third consecutive day, buoyed by rising Treasury yields, which have reached an 8.5-month high. This surge has placed pressure on major currencies, including the British pound, euro, and Japanese yen, which are trading at multi-month lows. Reports indicate that former President Donald Trump is considering emergency measures to implement a new tariff program, further supporting the dollar's ascent. The dollar's gains come as market participants await upcoming U.S. jobs data, with the currency maintaining its strength despite fluctuations in other currencies. The British pound, in particular, has faced continued weakness amid these developments.
Dollar clings on to gains ahead of US jobs data; sterling slips - Reuters https://t.co/NX7SCENLes
US dollar clings on to gains ahead of US jobs data; British pound slips https://t.co/2bLJm5rc88 via @Reuters https://t.co/ETuz5EWiqp
ForexLive European FX news wrap: Dollar steady awaiting jobs data https://t.co/MwL2v77qHq