Market wrap: FOMC minutes check DXY - Westpac

Analysts at Westpac offered a market wrap on FOMC minutes day.

Key Quotes:

"Global market sentiment: The US dollar and interest rates extended their trends overnight but were checked by the FOMC minutes.

Interest rates: US 10yr treasury yields rose from 1.77% to 1.80% (a four-month high) before slipping back to 1.77% post-FOMC minutes. 2yr yields spiked to 0.89% (also a four-month high) before falling to 0.86%.

Currencies:  The US dollar index made a fresh seven-month high overnight. EUR fell from 1.1060 to 1.1005 – a two-month low. USD/JPY rose from 103.50 to 104.48 – a two-month high. AUD ranged between 0.7550 and 0.7593. NZD nudged lower to 0.7045 before bouncing to 0.7092 post-FOMC minutes. AUD/NZD initially extended its rise to 1.0736 (two-month high) but retraced during the NY session to 1.0695."