All the focus and attention yesterday was on the yen intervention by Japanese authorities, alongside a dose of central bank decisions from the SNB and BOE while long-end yields blew up and surged higher. The dollar was largely a passenger but still stood its ground before we return now to the post-Fed narrative and the dollar is pushing to fresh highs again.
The euro is down to fresh 20-year lows now against the dollar with a push towards 0.9500 in sight. Meanwhile, GBP/USD is down to fresh 37-year lows against the greenback with a look towards 1.1000 next. USD/CAD is up 0.3% and running up against a push above 1.3500 while AUD/USD is down 0.8% to below 0.6600 as a firmer dollar looks to finally crack key technical support this week.
It's almost a sell everything mood in markets again as stocks and commodities are all lower as well so far today. European indices are down around 0.4% to 0.8% while S&P 500 futures are down 0.6% on the day. Bonds are relatively steady but it comes off the back of a major rout yesterday in the long-end of the curve.
So, after all the major headlines yesterday, it seems like the market narrative hasn't changed from the past few weeks and we are back to the regular scheduled programming before the weekend. Fun.