Looks like we have a wave of risk aversion late in the Wednesday session. US equities have turned decidedly lower in the last 30 minutes with the S&P 500 falling from near break-even to down almost 10 points. USD/JPY is making fresh lows in the 93.15 area and even oil is down $1.20.
Hoenig’s uber-hawkish comments contrasted sharply with Bernanke’s dovish take, for what it’s worth, perhaps spooking investors somewhat over discord on the FOMC.
EUR/USD is easing from a rise to the high 1.3370s, trading now at 1.3365 as EUR/JPY falls to the lows of the day at 124.50.
