US equity futures are flat ahead of the open but a moderately-better tone has been creeping into FX.The dollar is los
US equity futures are flat ahead of the open but a moderately-better tone has been creeping into FX.
The dollar is losing some ground broadly, despite the rise in Treasury yields. US 10-year yields are now up 9 bps, just shy of last Wednesday’s cycle high of 2.246%.
Commodity currencies have been battling higher since US trade got underway and now the pound has made a quick move up to 1.3181 from 1.3145. That puts it fractionally higher on the day after losing as much as 45 pips just two hours ago.
There isn’t much on the calendar to drive it but we’ll be watching closely for comments from Powell at noon ET.
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