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USD is on the front foot

FOREX
  • The Dollar is mostly in the Green across most of the majors, benefitting from the Risk Off tone and higher US Yields.
  • Only the Scandies and the CAD are trading flat, given higher energy prices.
  • The standout this morning, is the SEK, which is up 0.58% against the Dollar, despite the Risk Off tone and the broader base bid in the Dollar.
  • The move in SEK has possibly been helped , after SBB's shares and bond rose, after the Swedish property group secured an 8 billion crown ($719 million) cash boost and said it would reorganise its business.
  • USDJPY continues to make fresh 2023 high, and next resistance is at 148.85 High Oct 31 2022, before the 149.00 figure.
  • Looking ahead, there's no tire 1 data out of the US, focus will be on speakers, with Lagarde, Schnabel and Fed Kashkari scheduled to speak.

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