Yesterday as the S&P closed at a record high, the US 10year yield flirted with a one month high and a break of its multi‐month range and the USD was strong. Hawkish comments from the Fed’s Bullard, who at the height of disinflationary pressures was a vocal dove has now shifted to a more hawkish stance, expecting the first interesthike in the Q1 2015 and rates to have normalized by the end of 2016. There are no Fed speakers today, leaving all the attention on President Draghi’s press conference at 8:30am EST.
Read the full report: FX Daily
Scotiabank