Euro and Dow Trade off Reversal Threats, Yen and Franc Fear Reversal

Euro and Dow Trade off Reversal Threats, Yen and Franc Fear Reversal


We are finding more and more evidence to support the risk that a reversal in underlying sentiment may be at hand. Starting with the stalled advance from an anemic equities drive last week; we are starting to see early retracements on equities, the fundamentally-troubled euro and high-risk carry currencies. Still absent is the conviction that supplies momentum in a market-wide risk deleveraging, but there are plenty of potential catalysts for traders to react to. Will we finally see a swell in 'risk off' and what would that mean for the intervention threats: the Japanese yen and Swiss franc?
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