It’s a brand new week but we’re seeing the same old story in markets today.
The dollar is up alongside bond yields while equities are seemingly more sluggish once again after Friday’s retreat.
USD/JPY is up to hit 131.00 while GBP/USD has fallen to a fresh 22-month low of 1.2269. Meanwhile, AUD/USD is testing the 0.7000 handle for the first time since February, down 1% on the day.
Given the lack of change in the market narrative and focus, it’s still rather tough to go against the greenback for now.