Singapore, September 15 (QNA) - The dollar inched up to trade near a two-week high on Tuesday ​as surging oil prices lifted Treasury yields and reinforced expectations that the Federal Reserve will raise interest ‌rates this week.

The dollar index, which measures the greenback against a basket of currencies, was last at 99.55.

The euro was slightly weaker against the dollar at $1.1538, as was sterling at $1.3494. The yen also pulled away from a seven-month high, last down roughly 0.2% at $154.72 ahead of an expected Bank of Japan rate hike on Friday.

Elsewhere, ​the New Zealand dollar and the Australian dollar were both roughly 0.1% ​lower, last at $0.5769 and $0.7133, respectively. Offshore yuan was flat at 6.708 per dollar.

In the previous session, the yield on the benchmark 10-year Treasury ⁠breached the key psychological level of 5% for the first time since October 2023. The yield last traded at 4.9895%. (QNA)