Treasury Yields Soar as Currencies and Markets React

The US Treasury yields continue to move up sharply, driven by strong momentum. This upward trend may propel yields even higher from here, as the outlook remains bullish.

In currency markets, most currencies are looking bullish against the US Dollar, with the Euro having moved above 1.16 and the Aussie and Pound potentially rising above 0.72 and 1.36 respectively. The EURINR, Indian Rupee, Chinese Yuan can also strengthen towards 111, 95.00 and 6.70 soon.

The Dow remains weak but may continue to trade within the 53000-54000 range while above 53000. Meanwhile, the DAX has turned weaker amid rising Middle East tensions and could test 26000, with the 26000-26600 range likely to hold for some time.