The early optimism in risk assets has quickly unwound. A 0.9% rise in the Nasdaq has turned into a 0.6% decline and the S&P 500 is down 0.3%. Bitcoin is also back below $90,000.
Incredibly, European stocks are not bothered at all. They've hugely outperformed the US so far this year and the DAX is up 2.8% today.
Money appears to be moving out of the US and in favor of cheaper valuations. That could be rotation or it could be the unwind of a very popular long-US, short-world trade. In any case, it's been the trading theme of the year so far.
In FX, we're seeing it today via selling in USD/JPY as the pair has now completed the retracement of the earlier rally.
This article was written by Adam Button at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( USD/JPY falls as the mood in markets sours )
Also on site :
- ‘This is murder': Family remembers victims killed in Austin fire as 4th body recovered
- RHOM star Larsa Pippen got ‘boob job, nose job, BBL and fillers’ to look like a ‘doll,’ top plastic surgeon claims
- Beloved '90s Actress, 53, Goes Makeup Free in Rare Summer Photos With Husband: 'Make the Time'