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NY Crossover Sees Further USD Recovery

USD
  • Markets happy to bid the USD higher through the NY crossover, helping most major pairs hit fresh lows just ahead of US hours. Modest uptick in volumes noted across Cable futures at 1251GMT/0751ET, with around 730 contracts changing hands inside 60 seconds - cash equivalent of just over $54mln.
  • Moves have been somewhat gradual, with ECB accounts and appearance of ECB's Schnabel at the Money Markets Group providing few fresh details for policy.
  • Focus turns to the weekly jobless claims data in just under 30 minutes, with BoE's Pill also due at 1500GMT / 1000ET.

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