Daily FX Update

Considering the shifts in the global bond market (US 10‐year sub 2.40%, the German 10yr at 1.05%, global 10yrs all lower and even the German 2‐yr yield back in negative territory) FX markets are relatively quiet with a preference for USD weakness, even as risk aversion has escalated. There are some signs of risk aversion in FX markets,with CHF and JPY outperforming; however strength in MXN and AUD suggest markets are not particularly concerned. Today there are no Fed speakers expected and data includes wholesale sales.

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