Calm returns, dollar resumes its slide
Good morning. Foreign exchange markets are trading on a more stable footing as tumult in the precious metals complex eases and the White House leaves its social media accounts in a state of benign neglect. Gold and silver prices are up five and ten percent respectively from their lows, North American equity markets appear set for an advance at the open after yesterday’s higher close, Treasury yields are little changed, and commodity-linked currencies are reversing some of their weekend losses. The euro, pound, and yen are all trading sideways as investors await Thursday’s central bank meetings and brace for the...