Increasingly frustrated by USD strength? You are not alone! | MarketTalk: What’s up today? | Swissquote

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Strong ISM data bolstered the speculation that the Federal Reserve (Fed) could opt for another rate hike before the year end and keep the rates at restrictive levels for longer. The US 2-year yield advanced above 5%, the 10-year yield is around the 4.30% mark.
The US dollar index extends gains toward the 105 level. At 105.40, traders will decide whether the dollar deserves to reverse its yearly bearish trend, and step into a medium-term bullish configuration. But countries around the world react to the dollar’s appreciation. Japanese in particular warn that they will soon step in to stop the yen’s bleeding.
The S&P500 didn’t like the rising US yields and slipped below the 4500 level and the 50-DMA yesterday. Nasdaq 100 also fell, as Apple dived more than 3.50% on a report that the Chinese government agencies banned staff from bringing iPhone and other foreign-branded devices into the office, that was perceived as a further escalation of technology war between the US and China.
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