USD lifted as 10 year yield breaks 2.9, heading to 2018 high at 2.943

Dollar receives some solid buying as the rally in 10 year yield picks up steam to above 2.9 handle.

That’s a wake up call to traders that TNX could now be taking on 2.943 high, which is a key near term resistance. Break of which will finally resume the larger up trend, through 3.0 handle, 20 2013 high and 3.036. The correlation of Dollar and yield has somewhat broken down in recent months. But a break above 3% could be the turning point to realign the correlation.