Oil, in particular, has come under heavy pressure, falling back to $71.50, reversing crude’s earlier gains. Prices had been up nearly a dollar for much of the morning but is now down a dollar.
Gold is down to $1136 as the pressure grows on the reflation trade. Stocks are holding up better, just flat on the day.
EUR/USD has pulled back to 1.4710 with an assist from EUR/GBP selling after resistance at 0.9090 held. The cross trades now at 0.9066.