With the typical focus on rising bond yields, a firmer dollar, and sluggish equities over the past few weeks, there is at least month-end flows to add to the mix over the next few days. The three key factors above are something that will persist through to the next FOMC meeting on 4 May at least, so it's tough to convince the market otherwise.
That said, Citi says that month-end flows are likely to stay supportive for the dollar. And with EUR/USD threatening a further decline today, it's certainly shaping up to be that way. From yesterday:
