Forex
Fed Hawkishness Sends Yields Soaring, Dollar Higher
The US Treasury yields rose sharply on hawkish Fed rhetoric and strong economic data. Five-year yields briefly moved above 5%, while the 10-year yield hit a 19-year high.
The US dollar strengthened, pushing EUR/USD down to 1.1380, GBP/USD to 1.3253, and USD/JPY above 158.00 before the yen firmed.
Brent crude rose 3.9% to $103, while WTI traded around $90.80-$91.40 amid diplomatic signals from US-Iran talks and attacks in the Strait of Hormuz.