Market wrap: US dollar, interest rates, and equities rebounding - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: Markets were calmer overnight; the US dollar, interest rates, and equities rebounding.

A special counsel to oversee the US investigation into Russian links was named, helping mollify critics of the investigation to date.

Interest rates: US 10yr treasury yields initially fell further from 2.25% to 2.18% (a one-month low) but rebounded during the London morning and touched 2.24% in NY. Fed fund futures yields rose, pricing a June rate hike as an 80% chance (from 70% yesterday).

Currencies: The US dollar index is up 0.3% on the day. EUR fell from 1.1175 to 1.1076. USD/JPY rose from 110.27 to 111.74. AUD fell from 0.7467 to 0.7412. NZD fell from 0.6950 to 0.6887. AUD/NZD ranged between 1.0710 and 1.0770."