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US Dollar, USD/JPY, USD/CNH Gain as Wall Street, Treasury Yields Rise. PBOC Cut Next?
The US Dollar continued its ascent over the past 24 hours, especially against the anti-risk Japanese Yen. Global market sentiment generally ended on an upbeat. Looking at the Tuesday Wall Street trading session, futures tracking the Nasdaq 100, S&P 500 and Dow Jones gained 2.23%, 1.65% and 1.54% respectively. Traders seem to remain confident that the world’s largest economy can withstand a Federal Reserve that is tackling the highest inflation in 40 years. Bank of Atlanta Fed President Raphael Bostic noted that the economy is in a ‘better place to stand on its own’. In fact, the closely-watched 10-year & ... (full story)