The general index of the US dollar continues to rise for the fifth consecutive session, trading at its highest level since May of the year 2020 at 99.60 levels, up by 0.15% today, Wednesday, April 6, with the opening of European markets, and after rising by about 0.50% yesterday, Tuesday, as the US dollar receives support from High yields on US Treasury bonds.

The yield on US Treasury bonds for ten years is trading at its highest level since April 2019 at levels of 2.607%, up by about 2% today, Wednesday, after gains of more than 5% yesterday, Tuesday, after statements by Vice President of the US Federal Reserve Brainard.

And Lyle Brainard had supported stronger moves for the US Federal Reserve in the coming period, after Brainard stated in a hypothetical discussion on inflation that the Fed is ready to take all necessary measures to control and limit the rise in inflation, including faster and stronger raising of interest rates and a faster reduction of the balance sheet to support these statements Rising yields on US Treasury bonds and the US dollar index.

Brainard’s statements supported an additional rise in the markets’ bets that the US Federal Reserve will move 50 basis points at its next meeting on May 4th, as expectations according to the Fed Watch tool from CME rose to nearly 77%, expectations of a half point hike.

In terms of economic data today, Wednesday, the markets are awaiting the minutes of the US Federal Reserve meeting for its meeting two weeks ago, as investors await more details of the plan to reduce the balance sheet of $ 8.9 trillion, as markets expect that the withdrawals will be between 80-100 billion dollars per month, allowing the withdrawal of more than one trillion dollars annually.

. The Australian dollar is trading higher against the US dollar at 0.7590 levels, ignoring the dollar’s gains, benefiting from the rising expectations that the Reserve Bank of Australia may head to start tightening monetary policy in May or June.

The Japanese yen, in turn, is trading at 123.95 levels, affected by the US dollar’s rise, while the euro is back to be the biggest loser against the US dollar, trading at 1.0888, its lowest level in a month.