All the reflation trades are in a slow grind higher this afternoon. Commodities continue to add to gains, now up nearly 2%, using the Commodity Research Bureua index as a proxy. Equities are firm, and AUD is within pips of its highs, now at 0.8862.
EUR/USD is is grinding through sell orders which are said to extend up to the 1.4000 level, above which a round of stops are seen.
For those looking for a little afternoon fun, here is the VP of the United States getting jiggy with the pop culture…
