It’s all gone wrong for risk assets in the latter half of US trading.
The selling started after European equities closed but really picked up after a poor US 10-year Treasury auction. That’s boosted rates, lifted the US dollar and is weighing on the Australian dollar.
It’s a disappointing turn after the rebound in risk assets yesterday and the capitulation from the Bank of Japan.
For now though, it’s well within the recent range and points to consolidation in the day ahead, which is light on the Aussie calendar.
This article was written by Adam Button at www.forexlive.com.
