Currencies Wobble Ahead of Biden's Stimulus Proposal
Daily FX Market Roundup 01.13.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It may not be long before we see more significant profit taking in equities and currencies. The signs are there – stocks hover near record highs but are struggling to extend their gains. Equities consolidated for the fifth straight day but currencies and Treasury yields are beginning to sell-off. In fact the beginning of the week decline in the euro and Japanese Yen crosses could foreshadow a deeper pullback in stocks. We’re not looking for a 5% correction, but with the Dow Jones In...