Strong US Dollar bid earlier in New York trade has reversed.
The dollar managed to make some stops against the yen and the pound, but as yields cooled, so did the currency. At the same time, some downside buying of US equities helped reverse the trend. The S&P 500 fell to 4474 but is now up 11 points to 4511.
Cable has been particularly volatile after falling to the lowest since November 2020.