Dollar rises at the start of the new year as bond...

Dollar rises at the start of the new year as bond...
Dollar rises at the start of the new year as bond...

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The dollar rose against major currencies in the first trading day of 2022, on Monday, with higher government bond yields and investors expecting the Federal Reserve (the US central bank) to continue raising interest rates during the new year.

Despite an increase in coronavirus infections due to the mutant Omicron, which continues to disrupt travel and public services, investors remain optimistic about the possibility of avoiding prolonged shutdown measures.

Yields on US two-year bonds, sensitive to interest rate hike expectations, along with five-year bonds, rose to their highest level since March 2020.

US 10- and 5-year bond yields rose to their highest in six weeks. The Fed is likely to start raising interest rates by the middle of 2022.

The dollar index rose 0.552 percent, and the euro fell 0.64 percent to $1.1295.

The dollar is on track to achieve the biggest daily percentage gain since December 17.

The Japanese yen fell 0.17 percent to 115.27 yen against the dollar, while the pound sterling was last trading at $1.3482, down 0.35 percent yesterday.

The Turkish currency rose 1.7 percent to 12.960 lira to the dollar, but it was low in early trading at 13.92.

The price of the cryptocurrency Bitcoin fell 1.61% to $ 46587.63.

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