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Greenback Offered as Risk Rally Hits Pause

FOREX

The Greenback is softer, slipping against all others in G10, with haven currencies outperforming as the recent risk rally flatlines. There's been no material drawback in equities, but the e-mini S&P is off by around 4 points or so, while core government bonds are firmer.

The beneficiaries so far Tuesday have been JPY and EUR, the former being supported on the break through the Y105.00 handle in USD/JPY, while EUR garners focus as Italian PM-designate Draghi gains more cross-party support for his technocratic government. EUR/USD sits at the highest since Feb1, with the pair now comfortably above the 1.21 handle.

Despite the softness in stocks this morning, AUD continues to outperform, prompting a new and clean break above the $0.77 mark.

US JOLTs data is the sole material release, but speeches are due from ECB's Visco & Lane and Fed's Bullard.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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