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Flash: Risk on, Yen down – Societe Gnerale

FXstreet.com (London) – Kit Juckes at Societe Generale explains that risk is on, hence a lower Yen.

Key Quotes:

“The deal agreed to lift some sanctions on Iran has cut oil prices by USD 1.5p/b this morning, with a mixed commodity picture otherwise, though gold prices are lower. Equity markets are higher, with the Nikkei gaining 1.5%”.

“There hasn’t been much of a bond market reaction, the focus being on tapering, negative deposit rates and economic data”.

“The FX market has seen the yen weaken and commodity/energy-sensitive currencies fall. AUD is down vs USD and NZD”.

“AUD and CAD are both going …read more