FOREX-Dollar boosted by U.S. Treasury yields surge; British pound drops

The U.S. dollar climbed to its highest in more than five weeks, while other major G10 currencies dropped, as higher U.S. Treasury yields made the dollar more attractive to investors. U.S. Treasury yields have surged since the end of last week, after the Federal Reserve said it will likely begin reducing its monthly bond purchases as soon as November and hinted that interest rate hikes may follow. "It’s squarely down to the yield performance in the U.S. bond market," said Neil Jones, head of FX sales at Mizuho.