Dollar rebounds broadly in early US session after stronger than expected CPI data. Treasury yields also surged with 10-year yield marching higher. 2% level for 10-year yield is getting closer. Stocks on the other hand, take some beating on concerns of a more aggressive Fed. For now, selloff is concentrating on Yen and Swiss Franc. But Europeans and commodity currencies are also weak. Technically, a major focus is on whether USD/JPY would break through 116.34 high to resume the medium term up trend. At the same time, attention will also be on whether EUR/JPY and GBP/JPY are heading to 134.11 and 158.19 resistance levels respectively. Break of all these levels could add extra fuel to the rally in USD/JPY. In Europe, at the time of writing, FTSE is up 0.06%. DAX is flat. CAC is down -0.45%. Germany 10-year yield is up 0.038 at 0.249. Earlier in Asia, Nikkei rose 0.42%. Hong Kong HSI rose 0.38%. China Shanghai SSE rose 0.17%. Singapore Strait Times rose 0.23%. Japan 10-year JGB yield closed up 0.0215 at 0.230. | 