The US dollar is unwinding the selling we saw earlier, that started in EUR and GBP. The Bank of England held rates today in a narrow decision and that had led to some volatility in the pound.
Now we're seeing a broader risk off tone in markets and that has unwound gains in the euro and pound while weighing more heavily on the commodity currencies. WTI crude is down 33 cents to $59.28 after rising as high as $60.51 earlier.
The main pain is coming through the stock market with the S&P 500 down 21 points to 6775 after opening flat. The dip in AUD/USD highlights the broader USD move.
AUD/USD 10 mins
