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Oil Rise Continues, But Modest Impact Elsewhere From Yemen Strikes

CROSS ASSET

WTI is just off session highs last near $73.40/bbl (+1.9%), as markets digest the impact of the joint US/UK military strikes on Houthi rebels in Yemen. Elsewhere, the impact is reasonably modest at this stage.

  • In the FX space, USD/JPY dipped sub 145.00 but is now back above this figure level. The yen is also not outperforming higher beta plays. AUD and NZD are both tracking higher, the A$ back close to 0.6700.
  • US equity futures are down a little under 0.10% at this stage, while the 10yr Tsy future pushed higher but is off session best levels at this stage.
  • Gold is higher but at $2035 remains within recent ranges.

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