US yields are moving sharply to the upside since the beginning of March, and the move has even extended higher in the last few days after the Fed signaled they are likely to stay on hold for longer. This means the odds for rate cuts are falling, which is supporting the rise in yields. Technically, yields now seem to be breaking out of a potential wave four triangle, suggesting we could see more upside ahead in wave five, possibly even moving closer to 5%. Under this scenario, the dollar will most likely remain supported and could continue to gain strength moving forward. In fact, we discussed this in detail back in December in our 2026 Elliott Wave outlook. Watch the video HERE.
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