CNBC: Dollar gains as oil, yield increases revive inflation fears

"A rout in global bond markets is intensifying and the dollar is climbing ⁠as ‌an outbreak in hostilities between the U.S. and Iran revives inflation risks, ⁠raises the likelihood of interest rate hikes in the months ahead, and makes safe havens more appealing," said Karl Schamotta, chief market strategist at Corpay.

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