Picture = many words. The US dollar index lost the SMA 200 and support at 98.30, dropped to and through the next support level at 97.65 and this morning is bouncing a bit to test the breakdown. If USD takes back 97.65 the possibility that this was a whipsaw and shakeout comes into play. But as of now it is locked below that resistance point and as long as that is the case it would target the March low and eventually, maybe well lower.
The reflation trades could be pressured today with USD trying to bounce a bit and with long-term yields negative.
