There was much more uniformity but seemingly less justification to the USD strength in Asia overnight. Neither equities (S&P futures flat since London closed) nor USTs (roughly unchanged) provide immediate justification …
There was much more uniformity but seemingly less justification to the USD strength in Asia overnight.
Neither equities (S&P futures flat since London closed) nor USTs (roughly unchanged) provide immediate justification for the intraday moves, but they are consistent with the tone in Asia this week.
WTI futures are back to $48.80 after having been as low as $48.290 in NY.
Standard Chartered Bank notes in a report on Wednesday:
The USD move has been somewhat modest but nonetheless enough for some pairs to breach interesting levels, including 1.0680 in EUR/USD, 1.27 in USD/CAD, 0.72 in AUD/USD, and 0.7260in NZD/USD.
USD/JPY has retraced to 121.45-50, which says much about the USD tone.
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