Market wrap: king dollar reigned and US stocks at record highs - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: Markets continued to run with a positive view of the looming economic policies from Trump. In a thin news session, US equities made fresh record highs, and the US dollar and interest rates rose.

Interest rates: US 10yr treasury yields extended a multi-day rise from 2.41% to 2.45%, the 2yr up from 2.19% and 2.21%. Fed fund futures firmed 1bp, pricing the chances of a March meeting hike at around 25% and the June meeting at 100%.

Currencies: The US dollar index is up 0.2% to a three-week high. EUR fell from 1.0658 to 1.0592 – a one-month low. USD/JPY ranged between 113.40 and 114.20. AUD fell from 0.7678 to 0.7631 despite another sharp gain in iron ore – up 6.5% to a 2 ½ year high. NZD fell from 0.7218 to 0.7156. AUD/NZD ranged between 1.0630 and 1.0680."