West Texas Intermediate crude fell below $80 a barrel for the first time since June 2012 amid speculation rising U.S. supplies are exacerbating a global glut. Brent fell to the lowest level in almost four years.
Australia’s dollar fell below 90 U.S. cents for the first time since March, and Sweden’s krona declined after elections as prospects for U.S. interest-rate increases next year boosted the greenback’s allure.
Treasury 10-year note yields touched the highest level in two months amid speculation the Federal Reserve will delete reference to interest rates staying low for a “considerable time” when it meets this week.
The dollar touched the strongest in almost six years versus the yen as Treasury yields climbed on speculation U.S. economic reports this week will back the case for the Federal Reserve to boost interest rates next year.
The U.S. sold $29 billion of two- year notes at close to the highest yield in three years, less than a week after Federal Reserve Chair Janet Yellen said interest-rate increases may come sooner than forecast.