The US dollar is having its cake and eating it too...for now.

Today, we look at the drivers of the stronger US dollar as it pulls to new highs for the year and what may be holding back USDJPY from participating in the greenback rally as those forty-year highs from 2024 approach. Elsewhere, yesterday's US equity market session was so far mostly only a one-off meltdown in high momentum stocks, with the median stock positive on the day. Massive interest and potential implications in how the market reacts to Micron earnings after the US equity market close today. This and more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Link WSJ looks at China's attempt to "lure the world to the yuan" - and it's not just Iran and Russia that is taking the bait. About twice per week (in normal times, hopefully soon to resume), you will find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack. Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at [email protected] for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.