USD now mixed against major currencies on the day
The notable mover among which is cable as it fell to five-week lows before jumping back up from 1.3920 to 1.3950 on the day.
Meanwhile, the loonie is still holding up against the dollar with USD/CAD near the lows for the day at 1.2827. AUD/USD meanwhile is at session highs of 0.7615 and the kiwi has also trimmed some losses against the dollar on the day with NZD/USD now at 0.7124 after a low of 0.7106 earlier.
EUR/USD also has come back up above 1.2200 with a large option expiry sitting at the figure level today and also on Thursday. That should be a magnet for price action for the time being until we get the next catalyst to move the market.
The most recent one being yields isn't really doing the trick today. As I said earlier, the wait for US 10-year yields to touch the 3% level is dragging on for too long that it is really failing to generate any further enthusiasm at this point. Yields are down by 1 bps on the day, with 10-year yields sitting at 2.964% currently.
