Dollar recovery extends
The dollar is steamrolling over its major counterparts again this morning as investors unwind exposures in other jurisdictions and pile into bets on continued gains in American equity markets. The trade-weighted greenback is up around a quarter-percent from yesterday’s North American close, Treasury yields are slipping across the front end of the curve, and stock market futures are pointing to another advance at the open. Japan’s yen is still tumbling, helping support global liquidity conditions. Shinzo Abe disciple Sanae Takaichi’s win in the weekend’s Liberal Democratic Party leadership election has unleashed a surge in speculative pressure against the currency, pushing...