Nothing like a good ol' prank to start the day, eh?
- China says Trump and Xi agree to reach mutually beneficial agreements
- China clarifies that agreement was referring to 1 November Trump-Xi phone call
Risk got a good spike on the back of the first headline as the dollar and yen slipped only for those gains to come crashing back down after it was said to be mentioning a different context.
In markets, there's nothing worse than fake news. Traders eat them up big time and we're seeing the euro and aussie start to surrender back the short-lived gains in a more substantial manner.
EUR/USD now falls to a low of 1.1310 while AUD/USD is down to 0.7230, up by just 9 pips on the day now after having traded mostly around 0.7240-50 levels earlier.
Meanwhile, equities are also falling off again and E-minis are back to unchanged levels (as above) after the jolt.
