"Dollar Soars in 2024 Amid Yield Surge and Fed Policy Speculation"

The U.S. dollar is gaining momentum alongside rising U.S. Treasury yields, with traders eyeing the upcoming ISM manufacturing survey and U.S. nonfarm payrolls report for further economic indicators. The EUR/USD, GBP/USD, and USD/JPY currency pairs are experiencing technical movements in response to these macroeconomic factors. The dollar's strength is contingent on positive economic data, which could reduce expectations of aggressive Fed rate cuts, while disappointing data could lead to a more dovish Fed stance and potential dollar weakness.