Treasury Yields Fall, Dollar Strengthens Ahead of Fed Move

Treasury yields decline and the dollar strengthens ahead of the expected hold by the Fed, with investors watching for likely changes in the central bank’s inflation and interest-rates projections. The WSJ Dollar Index stretches a four-day winning streak, rising 0.3% as the greenback strengthens 0.5% against the yen and 0.2% versus the euro. The 10-year Treasury yield is at 4.282% and the two-year at 4.684%. Spartan’s Peter Cardillo says in a note that “unless there is some unforeseen surprises from Powell and the communique, the market is not likely to overreact,” to the Fed’s decision.