Treasury yields remain near the highs of the day but the US dollar is giving back some gains.

Cable is 100 pips from the lows of the day and the commodity currencies are also making some progress. Meanwhile USD/JPY remains near the best levels of the day.

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The moves is part of a broad reversal in the market tone as equities bounce. The S&P 500 is down just 7 points now after falling by 60 at the lows.

There's no clear catalyst for the turnaround but it's showing some real gumption from the bulls, especially after the strong ISM print.

Tomorrow's data slate includes initial jobless claims but it's all leading up to Friday's non-farm payrolls report.