The dollar is keeping a slight advance against most major currencies, only seen down against the yen and franc. It's a more classic flight to safety reaction with equities being pressured further. Meanwhile, bond yields are slightly lower on the day after the selloff there in the past two days. USD/JPY is now down 0.5% to 156.80 levels:
The chart above shows that the near-term bias is back to being more neutral as well. That comes amid a break back below its 100-hour moving average (red line) of 157.05 earlier.
Besides that, USD/CHF is down 0.1% to 0.9120 but the dollar is seen gaining elsewhere in the major currencies bloc. EUR/USD is down 0.1% to 1.0790 while AUD/USD is down 0.2% to 0.6595 currently.
The flows we're seeing comes as the mood in stocks is souring further in trading today. European futures are pointing to a lower open with US futures also set for a rough showing after yesterday's fall. S&P 500 futures are down 0.6%, Nasdaq futures down 0.6%, and Dow futures down 0.9%.
In the bond market, 10-year yields in the US are down 2 bps to 4.60% on the day. But in the context of this week, it is still up roughly 13 bps after the move higher in yields in the past two days.
