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Dollar Hits Two-Month High as Five-Year Yields Cross 5%

By Markets Desk · · Updated 2026-09-24 04:39 UTC
A neat stack of US dollar bills

Dollar holds 101.1 high as hot PMI and 4% oil surge push Oct hike odds to 70%, with 5y yields crossing 5%.

  • The Star reports that the strong manufacturing data was the primary driver behind renewed inflation worries. Additionally, oil prices jumped nearly 4% on Wednesday due to geopolitical tensions and export restrictions.

    Source: The Star

  • The Lufkin Daily News reports that Fed Governor Michael Barr's comments on aggressive rate-hike pricing have driven market bets for an October tightening to nearly 70% from 50% a week ago. Additionally, oil prices jumped nearly 4% on Wednesday following geopolitical tensions, further amplifying inflation concerns.

    Source: The Lufkin Daily News

  • The dollar index reached 101.1 on Thursday. Five-year US Treasury yields broke 5% after a weak auction and hot PMI data.

    Source: CNBC
Based on reporting by CNBC, The Lufkin Daily News and The Star, compiled by the Tradingbird desk.

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