12 May 2015
Forex news: Dollar falls as bond sell-off continues – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team summarizes the performance of Forex majors and EM FX, noting that the unwinding of long bonds/ long USD position is continuing this week.
Key Quotes
“The dollar is softer against the majors. Swiss franc is outperforming, while the Swedish krona is underperforming on much softer than expected CPI data.”
“The euro rebounded off of support near $1.1135 and is currently trading near $1.13. Sterling continues its post-election rally, breaking above the 200-day MA to trade just below $1.57, the highest since December and boosted by firm IP data.”
“Dollar/yen continues to straddle the 120 area.”
“EM currencies are mostly lower, with RUB outperforming and INR, KRW, and MYR underperforming.”
“MSCI Asia Pacific fell 0.1%, breaking a streak of two straight up days despite a small gain for the Nikkei and a 1.6% gain in the Shanghai Composite.”
“Euro Stoxx 600 is down 1.7% near midday, while S&P futures are pointing to a lower open.”
“Global bond markets are mostly lower, with Greek 10-year yields up 15 bp. US 10-year yield is up 6 bp to 2.34%, the highest since November 19.”
Key Quotes
“The dollar is softer against the majors. Swiss franc is outperforming, while the Swedish krona is underperforming on much softer than expected CPI data.”
“The euro rebounded off of support near $1.1135 and is currently trading near $1.13. Sterling continues its post-election rally, breaking above the 200-day MA to trade just below $1.57, the highest since December and boosted by firm IP data.”
“Dollar/yen continues to straddle the 120 area.”
“EM currencies are mostly lower, with RUB outperforming and INR, KRW, and MYR underperforming.”
“MSCI Asia Pacific fell 0.1%, breaking a streak of two straight up days despite a small gain for the Nikkei and a 1.6% gain in the Shanghai Composite.”
“Euro Stoxx 600 is down 1.7% near midday, while S&P futures are pointing to a lower open.”
“Global bond markets are mostly lower, with Greek 10-year yields up 15 bp. US 10-year yield is up 6 bp to 2.34%, the highest since November 19.”