Markets had traded in relatively tight ranges during the Asian and European sessions, but early in the NA session there was a wave of USD buying as the Fed’s Bullard (non‐voting hawk) commented that ‘patient’ should be stripped from the March statement and ECB policy is expected to weaken the euro. However the broad picture is that bonds yields are generally lower, with the U.S. 10‐year below 2% while several global equity indexes are at fresh highs, including the S&P, DAX, Nikkei as well as the MSCI all country world index and most currencies remain stuck within broad ranges.
Read the full report: FX Daily