No it will drive it lower. Higher yields mean lower treasury prices and as I said the top is in for the dollar. In the 1970s 10 year treasury yields rose from around 6% all the way up to 15% in 1981 and gold went from $103 to $887.50.
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Thanks this is really interesting topic and I agree 100% with your view. Sorry my question was not well formed. I meant do you think there may be a short term bounce of USD associated with FED unwinding / reducing USD?
I personally think the Fed will have great difficulty in unwinding and this fact in of itself will hurt Fed credibility and the dollar.