Hawkish Fed minutes keep dollar well-supported
Good morning. The dollar is outperforming all of its major counterparts as the aftermath of yesterday’s more hawkish-than-expected Federal Reserve minutes puts upward pressure on yields and weakens demand for speculative asset classes. Ten-year Treasury yields are inching higher, equity futures are setting up for modest losses ahead of the North American open, and the euro, pound, and Mexican peso are all coming under mild selling pressure even as rate curves shift upward in sympathy. Federal Reserve officials showed little inclination to ease policy at last month’s meeting, with the bulk of the rate-setting committee hoping to see further progress...