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Improving economic outlook in US provided support to both ailing dollar and treasury short term yields.
- Treasury 2 year yield that touched 0.73% in March, prior to FOMC meetings are creeping up once more and speculation looks all set to challenge the high made in March. As of now 2 year treasury yield is trading at 0.65%, up from its 0.55%, recent low made on May 15th.
Dollar is getting the required support from yield as speculation seem to be rising on both ends.
Dollar is likely to rise further against its major counterparts.
- Target for Euro is coming around 1.065, currently trading at 1.089.
- Target for pound is coming around 1.48, currently trading at 1.538.
Further improvements in economic outlook would push yields higher.
- Rate hike from Federal Reserve is now seems likely in September. However Federal funds rate still pointing at a later date, which means adjustments on yields will continue as we move in closer or market might expect sharp reaction, should FED choose to act in September.
