NASDAQ hit a new all-time high last week. S&P500 and Dow are still trading well below their respective highs but posted a strong weekly close. Relaxation of the new trade tariff terms by the U.S. and North Korean steps toward denuclearization have been a real boost to risk sentiment. That said, I continue to believe that we'll see SP500 at 2500 before 3000, especially if U.S. treasury yields keep rising.
al_dcdemo's Blog
USD/JPY sells off
USD/JPY reversed sharply after Yellen said they won't hike for at least a couple of meetings. Stocks liked it though as Dow hit an all time high. On quick glance it appears that the Aussie benefited the most from the testimony but is, as most other major pairs, near unchanged on the day.