The US dollar is mixed today after the Dollar Index rose to new 2018 highs yesterday. It is being driven by rising US rates, which also punishes short dollar positions. The US 10-year yield rose seven basis points yesterday to nearly 3.10%. It is consolidating near 3.06% now. Many see the yield rising toward 3.20%, which would match the mid-2011 high. The two-year yield continues to march higher as well. It rose three basis points yesterday to 2.57% and is flat today. Part of the rise at the short-end reflects expectations about the trajectory of Fed policy. For example, if the Fed were to hike rates three more times ... (full story)