• GBP leads, JPY lags the day
  • European stocks higher; S&P 500 futures up 0.1%
  • US 10-year yields rose 1.2 bps to 3.740%
  • Gold rose 0.4% to $1,965.49
  • WTI crude oil stagnates at $70.64
  • Bitcoin fell 0.4% to $25,450

After yesterday’s drop in the dollar, the action in European morning trading calmed down somewhat today.

Stocks are somewhat steadier and the dollar is also in a somewhat mixed mood, at least for now. Later we may see a continuation of yesterday’s stuff, but keep in mind that it’s quadruple witchcraft in the markets today, so it may see a bit more volatility in general.

The Euro remains firm with EUR/USD just a touch higher at 1.0960 and remains in the hunt for 1.1000. The pound is a notable gainer, extending its breakout against both the dollar and the yen this week. GBP/USD rose 0.3% to 1.2825, while GBP/JPY rose another 0.9% to 180.75 – its highest level since 2015.

Jenu is not happy about the BOJ decision today and Ueda’s pusher didn’t really help. Those who have been lonely for a long time a few months ago are understandably frustrated as there has been no progress towards normalizing politics since Ueda took over in April. Today’s remarks only add to that sentiment.

USD/JPY raced higher to 141.40 and is currently holding around the 140.90-00 level.

ECB policymakers turned out in droves today, reaffirming a July rate hike while leaving the door open for September. This is helping to keep the euro in some buoyancy with regional bond yields also supported as such.

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