Today, Dollar fell to a 20-year low, while almost everything else fell as investors braced for rapid Federal Reserve rate rises and a likely recession.
Following the release of unexpectedly high inflation data on Friday, markets have hurried to bet on rapid-fire rises.
The dollar index scaled a two-decade peak of 105.29 on Monday and held near that level in Asia.
Consecutive 75 basis point rate rises in June and July are close to fully priced, sending shockwaves across asset classes.
It has hit one-month highs on the euro, Australian dollar, New Zealand dollar, Swiss franc, and Canadian dollar.
Aussie was the best performer throughout the Asia session, attempting a bounce with S&P 500 futures.
The two-year Treasury yield is up about 50 basis points since Thursday’s close at 3.3091%.
The 10-year yield is similar, at a similar level, in a signal that investors fear the rapid tightening path will hurt growth and possibly bring on a recession.
This report’s information was first seen on Reuters; to read more, click this link.