-
USD stands tall as tightening gets priced in
USD rocketed higher to a new top of 93.80 and is consolidating gains this morning. The ten-month highs are tracking the rise in US Treasury yields as the market starts to price in tapering and potential rate hikes. The EUR lost 1.17 and is hovering near the lows at 1.1663. GBP was the major loser on the day, down over 1% and breaking through the cycle lows to 1.3520. Global risk sentiment and continued UK logistical problems look to be trumping BoE rate hike expectations. EUR/GBP broke out of its recent range and is nearing the 200-day SMA at 0.8644. USD/JPY jumped higher for a fifth straight day into the ... (full story)