The US dollar is near the highs of the day across the board as broad market sentiment deteriorates. The bond market is the crux of the problem as Treasury yields edge higher again. US 10s are up 1.8 bps today to 4.23% after earlier falling to 4.18%.
The surprising strength in the Atlanta Fed GDPNow number has the market worried that rates will need to stay higher for longer. It also underscores the relative economic strength of the US economy compared to Europe.
EUR/USD is down 18 pips to 1.0886. The weekly low of 1.0877 is support and we could see a run on stops if it breaks.
EURUSD daily
