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Dollar and stock market divergence as Dow Jones opens in the red
The US stock markets have recently reopened amid some stark divergence in a number of markets following the lower than expected US PPI data. The USD/JPY has managed to rebound back above 157.00, but the dollar versus Europe is a little less ebullient. At the same time there is rotation and divergence amongst the US stock indexes in early trading. The Nasdaq 100 opened higher and has mostly held all of those gains. However, the Dow Jones has so far traded in the opposite direction and well into the red in early trading. The Dow is now falling back towards and now below 38,550. The index is currently trading at 38,540
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