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The dollar index raced higher, in an unusually swift move against the yen and other currencies, as short-end bond yields spiked to a six-and-a-half year high.
Currency investors pinned the move on Wednesday's stronger-than-expected durable goods report, coupled with longer-term expectations that a stimulus plan from President-elect Donald Trump will rev up the U.S. economy and possibly force an earlier cycle of interest rate increases from the Federal Reserve.
As for the bond market, strategists said while durable goods and the rising dollar were a factor, they also pointed to developments Europe.
"We had decent data in the U.S. We also have U.K. yields, which are rising on the Treasury statement which projects a significant increase in borrowing post-Brexit," said Boris Rjavinski, director, rates strategy at Wells Fargo. The U.S. 2-year yield, the sector most sensitive to the Fed, jumped to 1.14 percent, its highest level since April of 2010.