UOB strategist Quek Ser Leang said the dollar index is losing upward momentum, and the rally that began last month may be turning into a consolidation or a mild pullback. A deeper dip could test the 21-day moving average at 101.50. BondBloxx’s JoAnne Bianco said yields above 5% only look high by recent habit. In her view, the unusual stretch was the years of very low rates after the global financial crisis.

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