As noted in the intro, the currency market has hardly noticed the rather violent shift in risk sentiment yesterday in the US equity market, and to some degree the Treasury market (long yields ending the day only a couple of basis points higher but the 10-year US Treasury benchmark yield was nearly 10 bps off its lows). The USD has remained relatively firm, with AUDUSD even managing strong new lows on a weak Retail Sales report from Australia overnight, as perhaps Covid concerns continue to weigh there. Elsewhere, some of the weakest currencies, especially the petro-currencies that plummeted on the nosedive in crude ... (full story)