Risk Aversion Driven by Concerns over Tighter Monetary Outlook

US dollar retreated on profit taking while equities slipped on concerns over tighter monetary conditions globally. Besides expectations of a Fed funds rate hike next week, ECB's QE addition last week surprised to the downside. RBNZ announced to cut the policy rate by -25 bps but has priced in no further rate cut in its forecast.

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Risk Aversion Driven by Concerns over Tighter Monetary Outlook