US equity markets fail to extend an early rally – and end the day near lows

Traders were probably less surprised about Liz Truss’s political exit than herself. However, this morning, it is economic data, which weigh on the British pound. Yields in the US are back at levels last seen during the financial crisis and European yields are expected to catch up. Tim Gagie, our Head of FX&PM Solutions Geneva, shares his views on the latest moves in FX and metals markets. 00:09 Introduction and markets wrap-up by Roman Canziani (Head of Investment Writing) 04:32 FX and metals update by Tim Gagie (Head of FX&PM Solutions Geneva) 07:08 Closing remarks by Roman Canziani (Head of Investment Writing)