European indices are down roughly 1% now as stocks are struggling to stay afloat once again. The push lower comes as 10-year Treasury yields are at session highs, up 4.7 bps to 4.038% as bond sellers look to validate a break above the 4% mark on the week. US futures are also struggling, gradually moving lower on the day with S&P 500 futures now down 0.3%:
All of this continues to keep the dollar underpinned with commodity currencies struggling at the moment. AUD/USD is down 0.4% to 0.6680 with the weekly drop now nearing 2%. This will mark six straight days of losses for the pair as it falls to a three-week low at the moment.
This article was written by Justin Low at www.forexlive.com.
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