Ok, so as Bloomberg notes, markets were “slightly disjointed overnight with various factors driving individual assets,” but you do want to keep an eye on the dollar here because it looks like the Cohn news combined with Stanley Fischer’s resignation is weighing on the greenback.
Despite the fact that, as ISI writes in a note, “if the WSJ report is true the market may reprice the risks around the Fed succession in a less dovish and more hawkish direction,” the uncertainty around the situation seems to be carrying the day.
The slide really accelerated around four hours ago with EUR/USD pushing through yesterday’s high – and then some – ahead of the ECB (not a great setup for Draghi):
And have a look at USDCNH:
Broad dollar now sitting near January 2015 lows:
