The unexpectedly strong interest to sell dollars at the 16:00 GMT fixing caught the market napping and EUR/USD was sent skyward, to 1.3396, before finally relenting.

We’re finding modest support around the 1.3365 area that had capped earlier rallies before the big bang…

US equities are at their highs of the day, up at 1276 in the S&P, up nearly 1.5% on the day while US 10-year notes are up only 4.3 bp at the moment after rising over 12 bp in early New Year trade….