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Flash: Watch equities; paradigm change? - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that currency markets flat-lined on Monday with LDN/NY away for a long weekend although trace elements of dollar strength continued to be detected.

Meanwhile, he adds that the JPY continued to consolidate higher across G10 space as the Nikkei continued to ease by more than 3%. Going ahead, he feels that all eyes may continue to be on equity behavior given the rout in the N225 last week. While markets have drifted away from a RiskOn/Risk-Off dynamic in recent months, he notes that last week’s price action demonstrated that this paradigm is hardly dead and buried and a more broad ranging potential equity correction in the coming weeks may whittle the majors lower further in favor of the dollar.

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