Dollar lower as stocks slide

The S&P 500 is barely in positive territory as US stocks give back gains. The S&P 500 was as high as 2841 but it's down to 2821 and just +1 on the day. I warned earlier about selling ahead of the long weekend and I think the trade risks are too high to justify holding speculative trades. Trump weekend tweets about tariffs are still to fresh and who wants to spoil a long weekend?

In any case, the bond market never really believed today's optimism and yields are now negative from 5-30 years on the day.

The change in sentiment is weighing on the dollar right across the board and USD/JPY is at a session low at 109.35, which is the lowest since May 15.

Dollar lower as stocks slide