U.S. dollar climbs as bond yields rise

NEW YORK, May 31 (Xinhua) — The U.S. dollar appreciated in late trading on Tuesday amid a momentum in bond yields.

The dollar index, which measures the greenback against six major peers, increased 0.08 percent to 101.7510.

In late New York trading, the euro decreased to 1.0740 U.S. dollars from 1.0785 dollars in the previous session, and the British pound fell to 1.2604 U.S. dollars from 1.2628 dollars in the previous session. The Australian dollar increased to 0.7177 U.S. dollars from 0.7163 U.S. dollars.

The U.S. dollar bought 128.65 Japanese yen, higher than 127.53 Japanese yen of the previous session. The U.S. dollar was up to 0.9587 Swiss franc from 0.9578 Swiss franc, and it was down to 1.2644 Canadian dollars from 1.2657 Canadian dollars.

The above market moves came as U.S. treasury yields climbed. The yield on the benchmark U.S. 10-year treasury rose to 2.85 percent on Tuesday afternoon, as investors continued to weigh rising inflation. The yield on the 30-year treasury note also advanced. A rising yield is dollar bullish, while a falling yield is dollar bearish.