-
Dollar Turns Mixed, Chinese Shares Tumble
The US dollar is mixed after making new multi-year highs against the yen near JPY124.30 in Asia, while month-end positioning appears to have helped fuel an extension of the euro's recovery that began in the North America yesterday. The lack of an upward revision to UK Q1 GDP kept sterling's upside correction muted. There are two main talking points today. The first is the dramatic break of the seven-day rally in Chinese stocks. It ended today with a 6.5% slide in the Shanghai Composite and a 5.5% drop in Shenzhen. The drop in Shanghai is the second largest daily decline this year, while Shenzhen's loss is the third ... (full story)