In early Asian trading, the dollar rose at one point to 91.49 yen, its highest level since Oct. 30. Late afternoon Tuesday in Tokyo the yen stood at about 91.20 to the U.S dollar.
At the same time, the yield on the benchmark 10-year U.S. Treasury note rose to a four-month high of 3.702% in early Tokyo hours.
Many have argued to me that a strong dollar would mean declining yields. They have simply not viewed the world through the prism of a dollar "shortage", which means the dollar climbs in value against all assets including Treasury securities.
This explains, dollar strength, gold weakness and Treasury security weakness. Stock market weakness will be next.