Risk trades storm back as the volatility continues

<p>Today's trading has been a journey as the market tries to sort out the economy and the bond market. Treasury yields are still higher on the day but have been reeled in from earlier levels.</p><p>US 10-year yields are up just 0.2 bps on the day to 4.23% from a high of 4.28% after Powell. The dollar and stocks are being dragged around with yields.</p><p>AUD/USD is a good illustration of the price action today. You can see the pop initially on Powell, followed by the reversal and now a slow rebound.</p>

This article was written by Adam Button at www.forexlive.com.