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Fed Hike Odds Near 60% as EUR/USD, USD/JPY Face Volatility

By: 
Christopher Lewis

Fed hike odds near 60% as U.S. yields climb. EUR/USD and USD/JPY face key volatility, while copper eyes a potential breakout above $6.85.

2 Year Yield Technical Analysis

Daily candlestick chart for US 2-Year Treasury Yield (US02Y) showing yield at 4.425%, with the 50-day EMA at 4.233% and the 200-day EMA at 3.986%.
Daily chart for US 2-Year Treasury Yield showing yield climbing to 4.425% above the 50 EMA (4.233%) and the 200 EMA (3.986%). Source: TradingView

The U.S. 2-year yield is the first place I’m focusing on today. It continues to climb. Rates rocketing higher suggest people are becoming more and more used to the idea that the Federal Reserve is likely to hike rates, or at least that it is becoming more likely to hike rates next week.