Currencies: Dollar gauge on track for best one-day gain as bond yields jump

The U.S. dollar rose for a second day in a row in Tuesday trade, giving a key measure of the buck’s strength its best day since late March, as rising rates on U.S. Treasury bonds underpinned appetite for the currency.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.04% was up 0.7% at 93.237 late in the U.S. trading day, rising for a second straight day and hitting a four-day high. The dollar gauge recorded its best daily performance in seven weeks Tuesday, according to FactSet data.

A broader measure of the greenback, tracking 16 rival monetary units, the WSJ Dollar Index BUXX, -0.10% rose 0.6% to 86.91.

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