As U.S.
Treasury yields climbed, with both the 2-year and 10-year yields rising 5–6 basis points, and oil prices surged nearly 5%, the U.S. dollar strengthened broadly, with traders following the shift toward higher yields and safe-haven demand
USDJPY: The pair continues to push to fresh four-year highs and is closing in on the 164.00 level. Above that, the next major upside target comes in near 164.50, a level last seen in the 1986 swing highs. USDCHF: The pair has climbed to its highest level since July 2025 and is now trading within a key resistance zone between 0.8170 and 0.8214.
Also in focus is the 38.2% retracement of the decline from the January 2025 high at 0.82116. Today’s high reached 0.8177. USDCAD: This is the one major pair that has not fully embraced the broad U.S. dollar rally.