The dollar and U.S. Treasury yields have reached highs not seen in over a month, driven by the ongoing resilience of the American economy, as evidenced by the release of generally better-than-expected data.

The U.S. Dollar Index (DXY), which measures the greenback's performance against a basket of major currencies, edged slightly higher to approach 103.52 on Thursday. The yield on a 10-year Treasury Note, whose performance is tracked by theU.S. Treasury Note ETF(NYSE:UTEN), briefly reached 4.13%, hitting its highest levels since Dec. 13.

Market-implied probabilities of a rate cut by the Federal Reserve...