The dollar fell 0.02% to 93.95 against a basket of currencies . It had earlier reached 94.17 as U.S. Treasury yields increased.
Yields on five-year bonds rose as high as 1.193%, their highest since February 2020, extending a two-week rising streak. Yields on 30-year U.S. bonds were only slightly higher, flattening the gap between five-year and 30-year debt US5US30=RR to its narrowest level since early 2020. Some market watchers are forecasting the Federal Reserve will need to increase interest rates sooner than previously expected to quell rising price pressures.Bitcoin last fell 0.15% to $61,448.06.Brent crude oil futures were down 62 cents or 0.7% at $82.26 a barrel after hitting $86.04, their highest since October 2018.
U.S. West Texas Intermediate crude were 12 cents higher, or 0.1%, at $82.40 a barrel, after hitting $83.87, their highest since October 2014.Additional reporting by Danilo Masoni in Milan, Karen Brettell and Sinead Carew in New York and Ross Kerber in Boston; Editing by Steve Orlofsky and Richard PullinSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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