Stock and Treasury rally weighing on risk assets
An increasingly risk-averse tone has sapped yen crosses. USD/JPY has completely erased the gains following the best jobless claims report in 40 years.
The S&P 500 is down 11 points to 2102 and US 10-year yields down 3 bps to 2.29%. Both are at the lowest in more than a week.
Companies have warned on declining profitability due to the strong dollar and fears of a hawkish Fed are beginning to mount.
Yellen will have to surf around better jobless numbers but a softening global economy and a strong US dollar.
