Forex
Fed Hike Odds Spike to Nearly 60% Amid Soaring US Yields
The US Federal Reserve's likelihood of raising interest rates has jumped to nearly 60% as the U.S. 2-year yield continues to climb.
The Daily chart for the US 2-Year Treasury Yield shows that the rate has risen to 4.425%, surpassing both its 50-day exponential moving average (EMA) at 4.233% and its 200-day EMA at 3.986%. This indicates a strong upward trend, suggesting investors are increasingly expecting a Fed hike.
The EUR/USD and USD/JPY currency pairs are facing key volatility as traders adjust to the shifting interest rate expectations. Meanwhile, copper prices are eyeing a potential breakout above $6.85.