We are looking at potentially the beginning of the end for the dollar.
A dollar index going down indicates inflation. This is evidenced by recent rise in commodity prices.
A bond yield/interest rate increase indicates fear of inflation.
Bond yield usually runs counter to the dollar index, but not recently.
What this means is that increasing yield might be the only thing holding the dollar together.
If the Fed buys up bonds to lower the yield to save the markets, the dollar index will tank.
Fed is trapped.