Distrust on China unlock, global restrictions on travelers from Beijing reverse Covid-linked optimism.US 10-year Treasury bond yields rose the most since October 19 and underpinned US Dollar despite downbeat US data.fades bounce off 1.0606 as bears keep the reins after retaking control the previous day, following a two-day winning streak. The major currency pair’s latest losses could be attributed to the strong US Treasury bond yields that triggered the US Dollar’s comeback.
The run-up in the US Treasury bond yields could be linked to the market’s lack of confidence in China’s unlock, as well as the geopolitical woes surrounding Russia.
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