currency markets were in focus in dollar sell-off - ANZ

Analysts at ANZ explained that the currency markets were in focus today, with US Treasury Secretary Mnuchin sparking a dollar sell-off. 

Key Quotes:

"Treasuries bear steepened, with commodities rising. US equities opened sharply higher, but took a nose dive by the New York afternoon. 

An explicit driver is hard to identify, but it was around the time Wilbur Ross made some comments on China and trade, raising tensions."

"The S&P 500 is currently down 0.2%, while the NASDAQ is off 0.8%. European bourses fell 0.7-1.1%. Treasury yields were up 2-5bps across the curve, with European yields up 1-2bps. 

Commodities rose with the weaker dollar and oil was further boosted by an unexpected 10th straight week of drawdown in EIA supply."