The USD rallied amid a backdrop of higher Treasury yields and a circulating narrative that the big China stock market loss today may be followed up by bigger losses next week as over-leveraged exposures are forced out, which in turn could prompt further commodity price declines. A solid upward revision in U.S. consumer sentiment data was also in the mix. USD-JPY rallied over 50 to 123.99. EUR-USD dipped to the low 1.11s. USD-CAD logged a peak at 1.2397, subsequently ebbed back toward 1.2350.
[EUR, USD]