Opinion: U.S. Treasury yields breaking 5% is not abnormal; the dollar index may enter a consolidation or mild pullback phase in the short term

PANews, October 14 - Quek Ser Leang, senior technical strategist at UOB's Global Economics & Markets Research, said in a report that the dollar index's upward momentum is beginning to weaken, suggesting limited room for further gains. Judging from recent daily chart price action, the dollar index's rally that began last month may be shifting into a consolidation phase, or could see mild weakness. If the dollar index pulls back further, it could test the 21-day EMA, currently at 101.50.

JoAnne Bianco, senior investment strategist at BondBloxx Investment Management, noted that while U.S. Treasury yields above 5% currently appear elevated, from a historical perspective what was truly abnormal was the prolonged period of unusually low interest rates following the global financial crisis, rather than today's high yield levels.