The dollar has gained some ground on the foreign exchange markets, as concerns about the spread of the Delta variant weighs on stocks. The US currency has strengthened to under $1.18 against the euro and to almost $1.36 against sterling, leaving the single currency-pound exchange trading at just over 86p
European and US equity markets sold off yesterday shedding around 2.5% and 1.5% respectively, though the former have clawed back some ground at the open this morning.
Bonds rallied as stocks fell with US 10-year yields ending the day around 10bps lower at 1.19%, while equivalent German yields dropped by about 5bps to -0.40%
Oil prices have fallen further following the decision of OPEC+ to boost supply. Brent crude has shed another $4 or so and is now sitting just below $70 per barrel
Data due today includes housing starts and building permits in the US