LONDON (Reuters) – Stock market bulls were forced to a stop on Tuesday and high-flying currencies like the euro and Australian dollar lost altitude, as a weeks-long threat rally ran into some turbulence.
SUBMIT PHOTO: The London Stock market Group workplaces are seen in the City of London, Britain, December 29,2017 REUTERS/Toby Melville
It all seemed so sudden. Asian equities had scored their ninth day of gains after landmark highs by Wall Street on Monday, however Europe’s big markets opened with a 0.5%to 1.5%lurch into the red.
The euro fell 0.3% EUR =-LRB- in just its 2nd drop in 11 days, bonds were back in favour, while another barb from China in its spat with Canberra saw the Aussie dollar AUD= D3 drop a 1%having simply set a 10- month top.
” It fells like the FX market is looking at the equity market and thinking possibly we must place for a correction,” stated Societe Generale strategist Package Juckes, referring to the recent rise in global equity markets.
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