Investing.com investing.com 06 Jan, 2021 23:45 am

Why FX, Stocks Shrugged Off Capitol Chaos

Why FX, Stocks Shrugged Off Capitol Chaos
Forex Analysis by Kathy Lien covering: EUR/USD, USD/JPY, USD/CHF, USD/CAD. Read Kathy Lien's latest article on Investing.com

com/analysis/why-fx-stocks-shrugged-off-capitol-chaos-200550107 By Kathy Lien   |  2 hours ago (Jan 06, 2021 04:52PM ET) Equities and currencies traded sharply higher on Wednesday, seemingly unfazed by the chaos on Capitol Hill and in some ways, encouraged by the Blue wave.Not only are risk trades from currencies to equities performing very well, but Treasury yields also rose above 1% for the first time in nine months as inflation expectations soared.The burning question everyone wants to ask is whether the risk rally in currencies and equities can continue.But the process has been halted by an unprecedented invasion of Capitol Hill during the Electoral College vote count.

With that said, the expected confirmation of Joe Biden as President-elect and the Democratic leads in Georgia did not cause any disruption in the markets even as members of Congress were rushed to secure locations after Capitol Hill was stormed.USD/JPY Hits A Nine-Month Low By JFD Team USD/JPY traded lower on Tuesday, hitting a new nine-month low at 102.

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