I'm looking at EUR/USD fwd prices. Currently they are the following ones:
These are the swap points to be added to the spot price. It seems it increases with time. Therefore, since overnight value date falls before spot value date, I'd expect ON swap points to be negative, but it's not the case. It's not only grater than spot but also one TN, which is after spot.
Is there any reason for that or I'm just understanding these values wrong?