LONDON—The dollar rose on Tuesday to a fresh 20-year high against the Japanese yen and tested a two-year peak against the euro, supported by high U.S. Treasury yields.
Ten-year U.S. inflation-linked bond yields are within touching distance of turning positive for the first time in two years.
The dollar index, which measures the greenback against six other currencies, climbed past 101 for the first time in more than two years. It was flat at 100.84 at 1155 GMT.
The dollar’s gains have been most striking against the yen, climbing to its highest level of 128.46 yen against the Japanese currency since May 2002. It was last up 1.3 percent at 128.20 yen.
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