US dollar climbs
The bonds sold at 2.000% compared to 1.9760% before the sale. That’s a big miss in bond standards and there’s been a follow through to 2.018% in the cash market.
Rising yields are generally positive for the dollar, particularly against the low yielders. USD/JPY is up to 110.52 from a low of 110.30 after CPI. It’s a broad dollar move though with EUR/USD once again below 1.18.