US dollar climbs after Fed ends SLR exemption

Yields higher

The US dollar is near the best levels of the day after the Fed announce that it would end an exemption that allowed banks not to have to post capital buffers against Treasury holdings. The result of Treasury liquidation but much of it was likely frontrun.
In the aftermath US 10-year yields are up 2.7 bps to 1.73%.
The US dollar is being dragged higher along with the move. As a result, EUR/USD is down 36 pips to a session low of 1.1879. Cable is also challenging the pre-FOMC low of 1.3851, down nearly 80 pips on the day and a full cent from the highs a few hours ago:
GBPUSD chart
The news schedule is very light today so moves from here will be all about the interactions between stocks, bonds and FX.
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