PANews October 14 news: Quek Ser Leang, Senior Technical Strategist at UOB Global Economics & Markets Research, said in a report that the upward momentum of the U.S. dollar index is beginning to weaken, indicating that its room for further upside may be limited. Based on recent price action on the daily chart, the rally in the U.S. dollar index that began last month may be shifting into a consolidation phase, or may see mild weakening. If the U.S. dollar index falls further, it could test the 21-day EMA currently at 101.50.
Joanne Bianco, Senior Investment Strategist at BondBloxx Investment Management, pointed out that although current U.S. Treasury yields above 5% appear high, from a historical perspective, what is truly abnormal is the exceptionally low interest rate environment that persisted for a long time after the global financial crisis, rather than today's high yield levels.