Dallas Fed’s Fisher says he does not see the dollar being supplanted as the the reserve currency. Treasury yields are “rather subdued” now and Fed exit strategies will be articulated when “the time is right”, he says. He does not expect unemployment to reach 11%, he says.
Markets are back to quietly range trading after its early afternoon spasm. EUR/USD is back to 1.4070, USD/JPY just above session low sat 95.12 ( a French bank has been a recent seller). Cable is stubbornly bid, trading at 1.6540.