Market wrap: risk sentiment remained elevated, AUD fell to  0.7223 - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: There was little news flow for markets which were mostly rangebound overnight. Risk sentiment remained elevated, the S&P500 up 0.3%.

Interest rates: US 10yr treasury yields ranged between 2.55% and 2.59%, the 2yr between 1.23% and 1.25%. Fed funds futures continued to price in a 100% chance of another hike by June. Fed moderate Williams spoke, saying the balance of risks is shifting slightly to the right.

Currencies:  The US dollar index nudged to a 14-year high and is currently up 0.1% on the day. EUR fell from 1.0420 to 1.0352 – a 14-year low – before rebounding to 1.0400. USD/JPY remained elevated, trading around 118.00. AUD fell to  0.7223 – a seven-month high – before rebounding to 0.7260. NZD similarly fell to 0.6883 – a seven-month low – before rebounding to 0.6930. AUD/NZD firmed slightly from 1.0460 to 1.0500."