🏦🇺🇸USD Bid Across G10FX On Warsh: Cable FX Macro

• We're looking at a classic hike-repricing. The market took Warsh's comments on inflation and pushed September rate hike odds from 35% to 56%, the Fed Chair noted prices are not improving "clearly and at a sufficient speed."

• In Treasuries, the front-end of the curve is underperforming the most. Gold is recording the sharpest move on our watchlist; this is repeating past performance on Warsh's hawkish leaning.

• The U.S. dollar took the September hawkish repricing and extended gains beyond 160.0 vs the Japanese yen. A broad dollar recovery could see gains continuing next week.