Forex news for US trading on August 25, 2015:
– Gold down $16 to $1139
– WTI crude up $1.10 to $39.34
– US 10-year yields up 13 bps to 2.13%
– German 10-year yields up 14 bps to 0.73%
The original title of today’s wrap had something in it about a bounce in US stocks after the PBOC rate cut but a crushing wave of selling tore apart the narrative and left stock markets deeply in the red.