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A mild retreat in risk appetite supports USD as Johnson & Johnson pauses vaccine trials
There is a mixed feel to markets today as the risk positive intent of recent sessions has begun to ebb away. With US pharma giant Johnson & Johnson pausing its COVID-19 vaccination trial there is a jolt to recent bullishness. Pausing trials are common practice (the Astra Zeneca trial saw a similar pause for a few days about a month ago), but this has just given the bulls an excuse to pullback slightly. As US Treasuries resume trading after a Columbus Day break, yields are ticking lower and the dollar is feeling the benefit once more. Markets have been viewing the US fiscal support negotiations with a glass half full ... (full story)