Volatility in equity markets remains extreme with the VIX still at its highest since late-2008 but some calm has returned to FX markets. EUR/USD has slowly edged below 1.14, GBP/USD is back to 1.30 and the Aussie and Kiwi Dollars were pretty stable versus the Dollar in Asian trading.
The S&P 500 is up 2.4% at time of writing and crude oil prices have rebounded 8%; however, for currency markets the focus is likely to turn to tomorrow’s UK budget and Thursday’s European Central Bank policy meeting.
