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    • Dollar Remains Firm Ahead of G7 Finance Meeting in Paris

    By on May 18, 2026
    Dollars
    Dollars

    Dollar Steadies Amid Rising Oil Prices and Bond Market Pressures

    Singapore:  The US dollar steadied against most major currencies today amid renewed tensions in the Middle East, rising oil prices and expectations of further interest rate hikes following a global bond market sell-off.

    The euro traded at $1.1621, while the British pound stood at $1.3320, with both currencies edging lower by around 0.03 percent.

    The Australian dollar declined by 0.2 percent to $0.7132, while the New Zealand dollar remained largely unchanged at $0.5837.

    The dollar index, which measures the performance of the US currency against a basket of major currencies, held steady at 99.325.

    Oil prices rose sharply, with Brent crude futures climbing by more than one percent to exceed $110 per barrel.

    The benchmark 10-year US Treasury yield increased to 4.6310 percent, while the two-year Treasury yield reached 4.1020 percent, with both nearing their highest levels since February 2025.

    Investors are closely monitoring the G7 finance ministers and central bank governors meeting scheduled to begin in Paris later today to discuss global economic developments and regional tensions.

    The Japanese yen traded at 158.97 against the US dollar, marking its weakest level since 29 April 2026, amid continued market speculation over possible intervention.

    Meanwhile, the offshore Chinese yuan weakened to 6.8150 per dollar.

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