With S&P futures down 2.75% , US Treasuries in epic demand (down 13 bp in yield, up more than 1 point in price..) and oil down almost $4, the world is once again in need of dollars.
EUR/USD is down ti 1.3870, having been as low as 1.3852 earlier. AUD/JPY and all the other carry trades are being kicked to the curb. Cable is at 1.6000, threatening to break out of the bottom of its range….
Don’t try and get cute in a market like this. Trade smaller than normal positions with wider than normal stops as volatility is high.
USD, CHF and JPY are the leaders, and will be fore the foreseeable future until the Japanese nuclear situation is back under control.
