The reflation trade and higher yields tug of war continues in Asia FX trade
The reflation trade pumping up currencies (excl. yen and CHF safe havens) against the USD has prevailed in Asia during the session.
But it also pumps up UST yields, which weighs on currencies, and thus we've had a bit of retracement in that past hour or so.
- Japan Nikkei 225 +0.78%
- HK Hang Seng +0.19%
- China Shanghai Composite +0.23%
Commodities are once again seeing bids.