Energy Markets
As focus shifts from Asian currencies, stocks drift and the dollar stabilizes
Investors re-emphasised concerns over U.S. trade tariffs, and their impact on the economy. These fears, combined with the pledges of key oil producers to increase supply, kept crude prices near their four-year-lows. After the Taiwan dollar surged in recent sessions, the focus has shifted in Asia to currencies. This has stoked rumors that a regional revaluation was in the works to gain U.S. concessions on trade. The rally has suggested that a major unwinding of the economy is underway. It also sheds light on a single economy, where years with large trade surpluses built up large dollar long positions for...