Risk assets had rallied on Friday amid speculation China was preparing to relax its pandemic restrictions, but over the weekend health officials reiterated their commitment to the "dynamic-clearing" approach to COVID cases as soon as they emerge.
Speculation that China might open its economy saw copper jump 7% on Friday in its biggest one-day rally since 2009, while a range of resources all benefited from hopes of increased demand. A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. The dollar gained 0.7% on the offshore yuan .
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How the midterms could affect Wall Street | CNN BusinessLast week was a volatile one on Wall Street, with stocks falling after Federal Reserve chair Jerome Powell dashed the market's dreams of a pivot and suggested that more big rate hikes are likely coming. But Wall Street is still turning its hopes to Washington.
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