The US dollar just got a boost after Federal Reserve officials raised fresh concerns about inflation.
With consumer prices rising more than expected in October, the dollar index was steady at 102.22, close to its recent high.
Now, markets are betting big (about 92% odds) on another interest rate hike at the Fed's next meeting on December 9.
US 10-year yield rises to 4.996%
US Treasury bond yields also jumped, with the yield on the US 10-year Treasury bond was up 13.8 basis points at 4.996%.
The dollar held steady against most major currencies, while the Australian dollar edged up a bit.
Meanwhile, Bitcoin and Ether are still stuck near three-month lows as global markets react to all this economic uncertainty.
As Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, put it, "The rates market isn't simply pricing another hike," showing just how much everyone's watching these inflation signals right now.