Markets retrace as geopolitical risks recede
Good morning. Price action is slowing across the financial markets as geopolitical noise levels come down, and consolidative trading patterns are emerging across most major currency pairs as investor focus pivots back toward economic fundamentals. The dollar is holding steady but remains on the defensive against an improving global growth backdrop, renewed talk of diversification away from US assets, and rising concern over fiscal trajectories. High-beta currencies such as the Australian dollar and Mexican peso have lost some momentum but are holding year-to-date gains, while demand for traditional havens is softening. Equity futures point to further gains, and Treasury yields...