FXStreet (Mumbai) - The two-year treasury yield in the US rose to 1.021%; its highest since May 2010 after the Fed raised rates by 25bps as expected. The yield currently trades around 1%. The yield on the benchmark 10-yr treasury yield has trimmed gains to trade largely unchanged on the day at 2.27%. The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle, and shall monitor inflation expectations and incoming data while deciding on further rate hikes. However, the median projected target interest rate for 2016 remained 1.375%, implying four quarter-point rate hikes next year. For more information, read our latest forex news.