Oil Slides As Crude Stocks Mount, Dollar Strengthens

The dollar rose 0.4 percent against a basket of key currencies, bolstered by the widely expected U.S. rate increase and by political risks in Europe as Dutch elections get under way.

The euro fell 0.4 percent on caution ahead of the Dutch vote.

U.S. long-dated and benchmark Treasury yields edged lower after the drop in oil prices was viewed as a deflationary sign, but the drop in yields was limited as investors awaited the Fed's policy statement.

Prices on benchmark 10-year Treasuries rose 2/32 to yield 2.600 percent, from 2.607 percent late on Monday.

(Additional reporting by Rodrigo Campos in New York and Nigel Stephenson in London; Editing by Bernadette Baum and Nick Zieminski)

Copyright 2017 Thomson Reuters.


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