The laws of physics are at work in the forex market today as the rally in risk assets extends (with an assist from data and the Fed).
The ISM data was better than expected, helping keep the risk rally going while the Fed chair was sufficiently downbeat to keep the weak USD trend intact.
US equities are up 1.8% at 1121, the CRB is up 1% and oil is up $2.40.
EUR/USD has extended its gains to a high of 1.3168 and is now consolidating just below those highs. Cable is at 1.5875.