Rising yields outweigh vaccine optimism
The great reopening trade isn’t looking so positive at the moment.
AUD/USD is down 28 pips on the day to 0.7792, a session low. Earlier optimism has been replaced about rising yields and the 50% retracement of last week’s rout has held the bounce.
Treasuries aren’t far behind, up 7.2 bps in 10s.