The pound may be stealing the spotlight but the dollar is continuing to go about its own business as it is pushing higher across the major currencies board once more in trading today. GBP/USD is now down 1.3% to 1.0710 after a bit of a bounce from the lows earlier but the pressure valve is still not turned off yet with no word from the BOE so far.
Elsewhere, EUR/USD is down 0.4% to 0.9655 but at least off earlier lows of 0.9570 while USD/JPY is up 0.5% to 144.00 again as buyers stay poised in search of another potential test of 145.00 following the BOJ/MOF intervention last week.
Commodity currencies are also staying pressured as equities are slumping. USD/CAD is up 0.3% to 1.3635 while AUD/USD is down 0.4% to 0.6500 as the dollar continues to hold firmer across the board.
S&P 500 futures briefly pared losses in early European morning trade but are now back down by 0.9%. The June lows are in the crosshairs of sellers and a break below that will heap added pressure on risk sentiment to start the new week:
In Europe, UK bonds are imploding and regional indices are also down across the board. The rout is very much a continuation of the sell everything mood in markets from last week, with 10-year Treasury yields also seen up 8 bps to 3.778% currently.
