Tech washout leaves currency markets directionless
Foreign exchange markets are looking somewhat rudderless this morning after a technology-led selloff hammered the biggest US stocks yesterday and dampened global risk appetite. The dollar is extending its gains in thin trading, Treasury yields are modestly lower, and equity futures are pointing to another downward lurch at the open. The latest US government shutdown has ended, but key data releases including Friday’s non-farm payrolls report have been delayed, which should limit volatility—provided that White House social media accounts don’t light up once again. An rollout of productivity tools by Anthropic triggered yesterday’s rout, punishing companies that provide data and...