US greenback rebounds because the market temper sours

This has been a difficult week to commerce as it has been a collection of U-turns in virtually every part. The most recent one is within the US greenback as danger trades start to sag. The commodity currencies have now given up all their features and are buying and selling flat.

The S&P 500 is simply down 8 factors however take a look at shares of JPM, which reported in the present day and had been initially up 3.5% however at the moment are unfavorable. Given the run-up over the past 10 weeks, that is not a handsome candle.

JPY day by day

As for the greenback, you’ll assume it could be hit tougher by the ten bps drop in 2-year yields however the broader market is having a very onerous time attempting to know what’s occurring in bonds and that is disquieting. There’s additionally an extended weekend within the US to cope with and a few geopolitical dangers excessive on the radar.

AUDUSD 10 minutes