Dollar climbs as Treasury yields top 5%; Aussie drops after RBA hike

The dollar rose against major currencies on Tuesday as Treasury yields topped 5%, while the Australian dollar fell after its central bank raised interest rates as expected. Investors awaited US economic data, including the PCE index and jobs report, for clues on the Federal Reserve's rate path. The euro hit a three-month low, and Brent crude traded above $100 a barrel amid Middle East supply concerns. The Reserve Bank of Australia hiked its cash rate to a 15-year high of 4.60%, citing high inflation. The yen held steady amid possible coordinated intervention warnings from Tokyo and Washington.