US dollar at the highs of the day
The US dollar is catching a broad bid following the ECB press conference. I’m not sure I would connect the two events because there’s nothing particularly notable happening in the euro at the moment.
Yields are moving up at the long end in the US with 10s now at a session high of 1.53%. They had fallen as low as 1.47% a few hours ago. 30s are at 2.27% from a low of 2.21%. There’s a 30-year auction today.
The rise in the dollar has done little so far to dent equities but gold is now negative on the day and oil has carved out a double top at $65.60.
In short, there’s not a great reason for this move but keep an eye on yields.
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