The Japanese yen is trading at session highs across the board
There are mild tones of a risk-off move starting to take place across asset classes and it has all started with the drop in the Turkish lira. The lira is down by around 5% as I type this but was down by more than 6% earlier against the dollar to trade at 6.20 levels.
The lira's vulnerability is also causing ripple effects across markets as Treasury yields are dragged to session lows falling 1.8 bps and US equity futures are also now in negative territory.
Well, if there's any one way to wake up sleeping markets, it sure must be fear.
