End of Reflation Trades?

With the Fed seemingly on track to remove accomodative stimulus, it is interesting to see that crude and products are down sharply today. EUR has also dropped smartly in the last hour. It is 1:02pm Central Daylight Time (despite what the post timer says which I will fix when I get a chance). As recently as 7AM this morning, the EUR was near its high of 1.2962 (basis June Futures on the IMM). It is now 1.2880 or so. Could it be that some big players are dumping their reflation trades? Or is it something in the news? I dont have the time to dig for the trigger but maybe later I will.

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