Why Is The US Treasury Offering Higher Yields & Not BRICS Currencies?
The U.S. Treasury is offering higher yields from Q3 this year when compared to the returns fetched by other BRICS currencies. The U.S. dollar not only outperformed BRICS currencies, but also beat gold, oil and other commodities in September. The dollar reached a 10-month high on Wednesday, Oct. 4, 2023, as the DXY index touched 107. The greenback is just eight points away from reclaiming its 52-week high of 114. The development is the opposite of what BRICS aims to achieve, as it wants to pull the US Treasury down. Also Read: 10 U.S. Sectors To Be Affected If BRICS Stops Using the Dollar Gold dipped to its seven-month low amid the rising US dollar in the global markets. In addition, oil prices hit a new low ahead of the OPEC meeting amid the dollar peak this week. So what’s happening here? Why is the U.S. dollar on a winning streak and adding pressure on other currencies and commodities markets? In this article, we will highlight why the U.S. Treasury is offering hig...