US dollar gains ground
The earlier enthusiasm in risk assets -- commodities in particular -- is losing ground. Natural gas prices are down 2.5% and WTI crude is back below $83.
With that, commodity currencies are off the best levels of the day and the US dollar has a broader bid.
Cable has been the big story today in a rise to 1.3833 but it's edged back down to 1.3812.
How earnings unfold is part of the story here as some companies are warning about inflation and price rises. Some of that is expected so it's tough to forecast how the market will navigate the commentary.
