Dollar moving higher as oil rises, bond yields rise

10 year bond yield at 2.4045%, +11.35 basis points

The 10 year bond yields are soaring with yield moving to 2.40% up about 11 basis points. The 30 year bond is up 12.3 basis points to 3.07% and the 2 year is up about 3 basis points to 1.119%. The rising oil prices has traders thinking higher inflation/more Fed tightening.

That has the dollar moving higher.

The EURUSD is trading below the 100 and 200 hour MAs at the 1.0604 level (now resistance). The low from yesterday and Monday, came in at the 1.05645 level. That is the next major target.

The USDJPY, has also moved to new session highs. It moves toward the highs from last week at 113.889.

Activity is lively as OPEC headlines dominate and push markets around.

The US stock market is opening with the Dow at record highs (traded up to 19200).

The S&P is currently trading up 4.87 points or 0.22%. The Nasdaq is trading up 7.7 points or 0.13%