Dollar roars back
The theme today looked like it would be a retracement in the dollar but the market is now having other ideas.
US equities dumped on energy, supply chain and inflation fears with the S&P 500 turning a solid gain into a 39 point loss. That's given new life to the US dollar and yen, which are rallying against the rest of the field in tandem.
AUD/USD is showing a clear picture of the reversal of fortunes:
When you come to trade at quarter end, you better bring a helmet (and a wide stop).
