Quarterly Outlook
Upending the global order at blinding speed
John J. Hardy
Global Head of Macro Strategy
Global Head of Macro Strategy
Summary: The yen has blasted lower on the combination of higher global yields and resurgent risk appetite, while sterling stumbles for a second day after its recent break lower. Oddly joining these two currencies in the weak column are a number of EM currencies, which are looking lower versus a resilient USD.