Funds are cutting their record commodities exposure ahead of an expected March interest-rate increase in the US, and especially silver prices were whacked on Thursday. Equities were in broad retreat in the US, while the US dollar's strength broadened, with commodity and emerging-market currencies faltering on the latest surge of rate-hike expectations.

• Funds are cutting record commodities exposure as US rate hike looms
• Silver slid 4%, with heavy selloff below $18.30/oz and finding support at $17.73
• Gold falls after failing to break 200-day MA; key support seen at $1,220/oz
• Oil has swung from a 7-week high to a 3-week low in just a few days
• Commodity and EM currencies falter on latest US rate surge; USD strength broadens
• EURUSD probes 1.0500 as March rate-hike odds climb
• Equities retreat; Saxo stays overweight in equities vs bonds
• In FX options space, volatilities trading lower, even vols for French election easing
• Treasuries have reached upper level of trading range
• Markets await Fed chief Yellen's speech in Chicago on Friday