ECB concerns on regional banks' exposure on Turkish credit weighs on yields
It's not just about FX today as bonds are also seeing some good flows on the back of the story above. That has continued to exacerbate further declines in the lira and the euro on the day, as global yields are inching lower currently.
10-year Treasury yields are also down 3.4 bps to 2.89% at the moment. The flow away from equities into bonds is sparking safe haven flows in the currencies space as well with the yen staying bid as the aussie continues to tumble.
AUD/USD just touched fresh one-year lows falling by more than 1% on the day, under 0.7300.
