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USD Stays On The Front Foot

FOREX

The USD tone has remained firmer. The BBDXY got above 1245 (+0.10%) but now sits slightly lower, albeit still in positive territory for the session.

  • USD gains are being aided by US yield moves, although gains across the benchmarks are not more than 1.5-2bps. Comments from the Fed's Bostic that he wants more certainty in the inflation fight before cutting rates. He added he projects 2 rates cut this year. The comments don't appear a departure from what Bostic has said previously though.
  • The generally positive regional equity tone is aiding sentiment at this stage.
  • AUD and NZD are the weakest performers, off around 0.20% at this stage, AUD back near 0.6510, NZD/USD sub 0.6100. Both pairs are slightly up from session lows.
  • USD/JPY is back to the 150.15 area. Session highs rest at 150.24.

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