USD flows: Draft agreement talk forces mkt to hedge

Pick up in corrective action across the board for UST, oil, and risk with Al Arabiya News suggesting Iran finalising a final formula of a draft agreement that could be announced tomorrow. We've heard many such false dawns many times over of course but for now the market has little choice but to hedge accordingly and hope it proves correct this time. Goes without saying that this now trumps any other data and events over the next few sessions and will set the cross asset tone accordingly.