US dollar takes a quick dive | Forexlive

The US dollar has taken a quick move lower and it’s not clear why.

The usual spots aren’t indicating any news so there is some head-scratching going on. It’s not often you see a stop-driven move of this kind of magnitude at this time.

Equities have perked up a tad while the bond market isn’t doing anything.

A short time ago there was a report from Zelensky saying he would be open to a territory swap in a peace deal. I guess that could be it as the euro has been particularly strong. I think that’s a stretch though as something around Kursk was already everyone’s base case. Moreover, similar reports have been out for hours.

Update: As time goes on, it looks more like a flow/Ukraine driven move as nothing else appears to be trickling out. A darker theory would be some kind of leak of CPI and that will certainly get some believers if tomorrow’s data is soft.