January 11, 2023 12:23 GMT
USD Recovery Gathers Pace at NY Crossover
FOREX
- USD strength picking up pace headed through the NY crossover, with the greenback now the firmest in G10 having been largely middle-of-the-pack for much of the European morning. Dollar gains becoming more evident against GBP, which slips through yesterday's and Monday's European low at 1.2110 / 12 respectively.
- Currency move coincides with the creep off lows for the US 10y yield, with equities also dipping around 10 points over the past 30 mins or so.
- Volumes remain somewhat lacklustre, suggesting a general backdrop of traders waiting on the sidelines ahead of tomorrow's CPI release. GBP/USD futures have seen around 18k contracts change hands today - when you'd expect to see over 30k by this time of day.
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