The greenback climbs to the highs for the day now
The relief in Treasuries this week is starting to dissipate, as 10-year yields are now up over 4 bps on the day to 1.579%. The low yesterday was seen at 1.475%.
As much as equities and risk has had a stellar bounce in the past few sessions, the overall mood still largely rides on how things play out in the bond market.
The dollar is picking up some bids across the board now as it rises to the highs against the major currencies bloc. EUR/USD is seen down to 1.1955 and threatening a fall back below its 200-hour moving average @ 1.1960:
The push higher yesterday stalled at the 38.2 retracement level of the recent swing move lower and now sellers are starting to seize back some near-term control on the day.
Elsewhere, GBP/USD is down to a low of 1.3960 and AUD/USD has fallen back to 0.7765.
