New york: The dollar rose today, approaching its highest level in two weeks, buoyed by rising oil prices and US Treasury yields, which reinforced expectations that the Federal Reserve will raise interest rates tomorrow, Wednesday.

According to Oman News Agency, the dollar drew additional support as risk appetite waned following a decline in equity markets, with AI-linked stocks coming under pressure after calls from leaders in the sector to slow the pace of development in order to curb potential threats to humanity.

The dollar index reached 99.55, while the euro slipped to $1.1538 and sterling to $1.3494, and the yen fell 0.2 percent to 154.72 against the dollar.

Oil prices climbed to around $107 per barrel, heightening inflation fears and driving the yield on 10-year US Treasury bonds above five percent in the previous session for the first time since October 2023, before settling at 4.9895 percent.