Bond sellers run out of ammo
The US dollar is dumping after the CPI report.
It looks like this market was wrapped up in the risks around inflation and worried about another leg higher in Treasury yields. The CPI report was only fractionally higher than expectations and that's led to a sigh of relief.
Yields are falling and now the US dollar is slumping significantly across the board. With that the euro is threatening last week's high:
There are 15-20 pip moves lower in the US dollar right across the board.
