Dollar Reaches Eight-Week High as Treasury Yields Climb to Multi-Year Peaks

The dollar index climbed to 101.315, its highest since late July. The 10-year Treasury yield touched 5.148%, a level not seen since 2007, while the 30-year yield reached 5.444%, the highest since 2004. Stronger-than-expected September PMI data and hawkish Fed comments boosted rate hike expectations. The euro fell to an eight-week low and sterling to a 12-week low.