The momentum is pretty strong -- the market has turned bullish and this is largely due to their inflation fears and on expectations of higher U.S. interest rates,
The mood on the dollar is currently negative, the comments are playing into it. The market is short dollar and sentiment is weakening.
The whole China effect is fading. We are moving back to trading in familiar ranges and the market is realizing it was not a big move.
The market fixation is back on yield again, and the yen's attraction as a funding currency will leave it vulnerable to further weakness despite ongoing strength in economic data.
The market has been very stretched on high-yielding (currency) positions...what we're seeing is a pullback from those positions.
The market was looking for a weak number. There was a relief rally when the number came in stronger than expected.