Even though Wall Street is once more moving on with an outlook through rose tinted glasses, traders on major forex markets continue to hug a cautious line. Treasury Secretary Steve Mnuchin suggested yesterday that they were “very confident” that phase one of a trade agreement with China would be signed in January. However, outside the bubble of Wall Street, markets seem to be far more cautious and seem to need more assurance. US Treasury yields are showing a marginal steepening of the curve but in essence, moves are still very muted. This is being reflected across recent moves in forex majors, where perhaps even a ... (full story)