S&P 500 falls to the lows of the day
USD/JPY is 35 pips of the highs at 120.90 as sentiment deteriorates and market participants seek the safety of the yen.
The S&P 500 is down 18 points to 2083 on worries about the Fed hiking rates as soon as June (but Sept still more likely). The index failed to make a new record high on Monday and is now on pace to close at the lowest since Feb 11.
Although USD/JPY has come down, the US dollar remains strong elsewhere. On a closing level, watch the late-Dec highs at 120.83.
