US equities are at session highs with 45 minutes to go, up about 2.25%. EUR/USD trades in the high 1.30-teens, eyeing overnight highs around 1.3030 where China was spotted on the offer. 1.3070 is further resistance if stops in the 1.3040/45 region are tripped. More offers are spotted toward 1.3100, traders say. Reflation is the word of the day as oil ends at its highest levels of the year and 10-year notes back up in yield to 3%.
Cable is trailing EUR/USD a bit as the afternoon progresses; EUR/GBP is underpinned as are most of the euro crosses as the dollar gives ground across the board.
USD/JPY is steady in the 98.55 region, supported by EUR/JPY demand. Bids are eyed in the 98.30 region on dips and again toward 97.50. Chinese offers are eyed at 99.00, dealers report.
