Financial markets are turning risk averse heading into Friday’s Asia Pacific trading session, with AUD/USD and NZD/USD pointing lower amidst broad US Dollar strength. The cause of worry stemmed from investors overpricing odds of a 50 basis point rate cut that the Federal Reserve now looks increasingly unlikely to deliver at the end of this month. On Thursday, New York Fed Vice Chair John Williams juiced the S&P 500 at the cost of front-end government bond yields when he said that the central bank should “act quickly” to lower rates at the first sign of economic distress. This translated into broad US Dollar ... (full story)