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Market wrap: major risk-off - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: US equities fell overnight, the S&P500 down 0.9% currently. The bearish mood was partly attributed to Trump’s isolationist policies, bond yields also behaving defensively.

Interest rates:

US 10yr treasury yields ranged between 2.46% and 2.50%, while 2yr yields nudged lower to 1.20%. German 10yr bund yields fell from 0.46% to 0.44% via 0.50%.

Currencies:  

The US dollar index was little changed on the day. EUR made a round trip from 1.0700 to 1.0620 and back. The safe-haven yen outperformed, USD/JPY fell from 114.90 to 113.45. AUD remained in ranging mode, mostly between 0.7350 and 0.7565. NZD performed well given the risk-averse mood, rising from 0.7260 to 0.7296. AUD/NZD fell from 1.0418 to 1.0363."

USD/CHF falls to 2-month lows

USD/CHF dropped from 1-week highs to the lowest since November in a few hours. The pair peaked hours ago at 1.0044 (highest since January 20) and then...
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SAR still trailing the falling GBP/JPY rate

SAR still trailing the falling GBP/JPY rate
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