XE Market Analysis: Asia – Mar 18, 2021

Sharply higher Treasury yields took the USD higher in N.Y. on Thursday, following weakness seen after the dovish FOMC announcement on Wednesday. The long end of the curve took off, as the Fed’s benign neglect of rising price pressures saw the 10-year yield surge 11 bps at its high to break through the 1.75% level, while the 30-year was nearly 8 bps cheaper to test 2.50%. The yields ended 2020 at 0.196% and 1.646%, respectively. On the data front, jobless claims disappointed, though the Philly Fed index was the strongest since 1973.