Investors are feeling more at ease with the uncertainty facing global market. The AUD/JPY exchange rate—a popular FX carry trade and risk metric—has moved off of its recent lows of less than 74 to a level of 79.4. At the same time, 3M LIBOR halted its climb, and has remained fairly steady around 0.54%, albeit […]
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AUDJPY
The prevailing trend across trading floors this morning is a rare lack of conviction. One contact said, “It is silent here, everyone is just sitting staring at their screens, no one has any convictions”. This loss in confidence could lead to oversized reactions—volatility—to breaking news; especially further negative developments in Europe. The VIX Index, which […]