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A red start for the Dollar

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  • The Dollar is showing in the red going into the European session, and despite some warning shots out of Japan on Yen Currency moves, the AUD and NZD are the best early performers in G10s.
  • Cable has dropped some 50 pips, and the Pound is in the red across the majors, after UK inflation and RPI came below consensus.
  • Still overall, the early price action doesn't really depict the strength of the Dollar as yields spiked to their highest level since the start of December, following Data beat and push back from the Fed on earlier rate cut of late.
  • Year to date all majors are down across the board, and the Yen has lost 6.25% against the Greenback for that period.

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