Many market participants sense an inflection point is near. The dollar settled last week beyond key levels against several major currencies, bolstered by higher short-term US rates. The market is aware that the Bank of Japan could intervene in the foreign exchange market with the trading near its best levels of the year, and the 10-year JGB yield grinding higher. Beijing cut the tax on equity transactions, will restrict IPOs, and urged some funds to buy more equities than they sold. Still, the equity market gave back around 80% of its initial gains and the yuan weakened after a stronger start. London markets are ... (full story)