Fed Governor Brainard to speak at the top of the hour
The US dollar is at the lows of the day across the board. The selling picked up an hour ago ahead of the London fix and has extended in the past few minutes.
There isn't a really coherent picture in broader markets today. AUD is at the highs despite some decent selling in equities. The bond market is quiet.
I might be building up this speech too much but I want to know how the Fed feels about rising bond yields. I don't expect any kind of action or even a threat at action but if we hear more of the laissez-faire attitude or any kind of endorsement of higher yields, then we could see a quick reversal.
