US Dollar: Higher yields support currency – MUFG

MUFG’s Derek Halpenny notes the US Dollar (USD) is strengthening as US fixed income sells off, driving global bond weakness and higher yields across the curve. A poor 5-year UST auction and strong US and global PMIs are reinforcing hawkish Federal Reserve (Fed) rhetoric.

Gold impact rationale

Rising rate-hike or hawkish expectations increase gold's opportunity cost.

• Source: FXStreet news
• 2026-09-24
• rates

Topics: gold news, gold price impact, rates