Market wrap: dollar on firmer footing again - ANZ
Analysts at ANZ explained that despite the “risk-off” tone in equity markets (especially during the Asian session) and fall in bond yields, the USD firmed overnight.
"The exception was against the yen which benefitted following the earlier sharp fall in the Nikkei. CAD underperformed after BoC held rates and maintained its “cautious” outlook for the path of rates. Equity markets were generally lower."
"The DAX closed down 0.4%, while the Euro Stoxx was 0.3% lower. Bucking the trend, the FTSE finished up 0.3%. At the time of writing, the S&P 500 was flat. Bond markets were generally stronger, with the yield on the US 10-year note falling to 2.32%. Bund yields were 2.5bps lower. Oil also weakened, with WTI off 2.4%. Gold was a touch lower (-0.1%)."