"We have had this slew of Fed speakers, all of whom seem to be very much favoring a rate hike very soon. Recent labor market and inflation data have also bolstered the case for a rate hike soon. Futures traders are now pricing in an 80 percent chance of a Fed hike in March, up from 66 percent on Wednesday and from 35 percent on Tuesday, according to the CME Group's FedWatch Tool. High-yielding emerging market currencies including the South Korean won, South African rand and Brazilian real have also performed strongly this year despite the rise in Treasury yields. A sustained move higher, however, could weigh on emerging market currencies, Citi's Englander said.

Source: dna March 02, 2017 19:41 UTC