U.S. Treasury yields rise as the dollar's rally strengthens further

(1) Trade Nation Senior Market Analyst David Morrison stated that during the European afternoon session, the US dollar's appreciation accelerated, driven by rising US Treasury yields. The US dollar continued the positive momentum brought by Federal Reserve Chair Powell's speech at Jackson Hole last Friday. (2) In his speech, Powell made it clear that the Fed's core policy objective is to bring core PCE inflation down to 2%. The current core PCE reading is 3.3%, still a considerable distance from the target. (3) The US Dollar Index (DXY) rose 0.2%, at 99.606.