The dollar is slumping independently.

Falling Treasury yields are a factor but stocks have been flat since the open.

In a risk on market, normally the yen would underperform the dollar but that hasn’t been the case all week. Instead it’s flows, stops and broad sentiment about the US economy.

  • Cable offers up to 1.5875 have been cracked but strong offers are at 1.5905/20.
  • AUD/USD offers at 1.0440/50 and stops above.