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Dallas Fed President Kaplan who is a nonvoter and renowned to be dovish spoke on Thursday.

He expects US Gross Domestic Product to grow this year around 4.5% to 5.0% and that yields on Treasuries will rise in response to the improved outlook for the economy.

He said the Fed should intervene to inhibit yields from rising.

Market implications

The downtrodden US dollar is currently making a slight comeback on the shorter time frames but is expected to remain under pressure due to ultra low-interest rates for the longer term.