Market wrap: antipodeans worst performers - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: The NZD and AUD were the worst performing currencies on Friday, while the US dollar remained elevated. Fed comments were hawkish.

Interest rates: US 10yr treasury yields ranged sideways between 2.55% and 2.62%, just below the 2.64% high made on Thursday. The 2yr yield similarly ranged between 1.23% and 1.27%. Fed funds futures continued to price in a 100% chance of another hike by June.

Currencies:  The US dollar index is little changed. EUR ranged between 1.0400 and 1.0475. USD/JPY fell abruptly from 118.40 to 117.47 after reports China seized a US drone, but recovered later to 118.00. AUD fell from 0.7360 to 0.7266 – a six-month low - but managed to recover to 0.7300 near the close. NZD similarly fell from 0.7040 to 0.6931 – a six-month low."