Modest US dollar selling
The euro and pound are showing some life despite ongoing weakness in equities. EUR/USD is at the highs of New York trade at 1.2030. It’s a good sign that it can hold 1.2000, which it touched earlier today.
Cable is also staging a recovery. It’s up to 1.3884 from a low of 1.3839.
This looks mostly like fixing demand to me but with Treasury yields falling and tech stocks slumping particularly hard, you can’t rule out outright USD selling.