Dollar rises as oil boosts yields before expected Fed hike

The U.S. dollar became a little stronger against several other currencies.

Oil prices stayed very high, which raised worries about inflation.

Those worries pushed U.S. government bond yields higher.

The 10-year yield reached its highest level since 2007.

Investors think the Federal Reserve will probably raise interest rates on Wednesday.

However, traders are also listening closely to what officials say about future rate increases.

The euro, pound, and yen all weakened against the dollar.

The yen briefly fell past 155 yen for one dollar.

Markets were also affected by attacks in the Gulf region and falling stock prices.