Currency traders seek safe havens as turbulence continues
Good morning. Risk aversion is dominating markets as trading resumes after yesterday’s North American holiday. The dollar and safe-haven yen are extending their gains, two-year Treasury yields are sliding toward three-year lows, and equity futures are pointing to a weaker open as investors brace for a continuation of last week’s rotation away from AI-exposed businesses. Oil prices are slightly higher on reports that Iran has closed parts of the Strait of Hormuz for military exercises. Here in Canada, inflation pressures eased more than expected last month. Data released by Statistics Canada this morning showed the headline consumer price index climbing...