Market wrap: USD index up 0.2% on the day - Westpac

Analysts at Westpac noted that risk sentiment had improved, where US equities rose, "partly helped by US officials downplaying the chances of action against Amazon. US bond yields and the US dollar also rose," the analysts added.

Key Quotes:

"Risk sentiment improved."

"US equities rose, partly helped by US officials downplaying the chances of action against Amazon." 

"Fed fund futures continued to price two more hikes by end-2018, with the next being in June (78% chance)."

"US bond yields and the US dollar also rose."

"The US 10yr treasury yield rose from 2.74% to 2.79%."

"2yr yields rose from 2.26% to 2.29%."

"Fed fund futures continued to price two more hikes by end-2018, with the next being in June (78% chance)."

"The GDT dairy auction resulted in prices falling 0.6% overall, with whole milk powder up 1.6% and skimmed milk powder down 1.8%."

"The USD index is up 0.2% on the day. EUR fell from 1.2330 to 1.2255. The safe-haven yen underperformed, USD/JPY rising from 105.80 to 106.65. AUD performed well despite the stronger USD, perhaps helped by improved risk sentiment, ranging between 0.7665 and 0.7705. NZD outperformed, rising from 0.7210 to 0.7270. AUD/NZD fell from 1.0640 to 1.0570."