The flight to safety is leading 10-year Treasury yields down over 9 bps to 4.524% and USD/JPY down over 1% now to test 154.00 on the break of the 155.00 level earlier. The greenback was the lead gainer in Asia trading but has surrendered a chunk of its gains during European morning trade.
Going back to US stocks, the S&P 500 may have touched a record high last week but looks poised to erase all of the gains then at the open today. On the chart, it will still look like a blip but perhaps this could signal the start of a more meaningful retracement/correction after all the frothiness in 2024.
This article was written by Justin Low at www.forexlive.com. Read More Details
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