Psychology for major markets February 28th

EUR/USD – EUR/USD pressing the 1.04 support area as USD strengthens generally on tariff concerns and end of month flow.

USD/JPY – USD/JPY pressing back above 150 on a general USD recovery but yield spreads still suggest major downside risks

EUR/GBP – EUR/GBP still edging lower helped by the perception that the UK is less in danger from US tariffs, but GBP is looking expensive.

AUD/USD – Dropping back after failing to break above 0.64 resistance area, but remains attractive if risk sentiment is resilient

Equities – US market struggling at the highs due to high valuations, declining growth expectations and tariff concerns.