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US dollar 2% higher, carving out bullish H&S across most majors

From fxstreet.com

Forex today was driven by a stronger dollar again with some of the US rates higher while the STIR curve steepened. The US dollar index is 0.2% higher on the day. The 2yr yields moved the most, rising from 1.53% to 1.56%. The US 10yr treasury yields moved between 2.30% and 2.33% to close unchanged at 2.30%. The market is pricing in a Fed hike for December and the chances of a more hawkish Fed Chair. The Fed fund futures yields firming and the chance of a December rate hike now at 92%. For data, the import/export prices were both higher than expected. US industrial production rose in line by 0.3% for September. ... (full story)

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  • Category: Technical Analysis