Dollar Index To Multi Week Highs, High Beta FX Weighed By Equity Weakness

USD gains have accelerated somewhat in recent dealings. The BBDXY index is at fresh highs above 1238.50 (levels last seen on March 6). We are only marginally above end NY levels from Monday, but dollar gains are uniform across the G10 space.

• USD/JPY has pushed to fresh highs of 149.39. We were last slightly lower in the 149.25/30 region.
• AUD and NZD are the worst performers though, particularly the NZD. NZD/USD is off around 0.30%, sub 0.6070. Headlines from NZ Treasury's fortnightly economic update around a severe economic slowdown not helping the NZD. We are right on March 6 lows (0.6069). A break sub this level could see YTD lows at 0.6038 (Feb 5) tested.
• AUD/USD is back to 0.6545, off by around 0.25%, we are still some distance from mar 6 lows though, sub 0.6500.
• Equity sentiment is softer in terms of US equity futures, Eminis down 0.20%, Nasdaq futures off 0.4%. We are also seeing a softer start for HK shares, a likely headwind for higher beta FX. Tech shares more broadly are underperforming, although don't see any fresh catalysts for weakness at this stage (outside of weakness in some earnings guidance/concerns around US restrictions).
• US yields sit close to unchanged across the benchmarks.