Kiwi leads the way as European trading set to get under way

Author: Justin Low | Category: News

But the Japanese yen is the biggest mover

The kiwi may be leading, but the range so far is still relatively narrow. Against the dollar, the kiwi is just trading in a range of 34 pips.

But the real story so far has been the yen, as it continues to weaken further on the day. USD/JPY touches a session high of 106.90 and is propping up yen pairs as well - this comes after the Nikkei caught a bid following the lunch break in Japan and closed at the highs for the day.

Other currencies are more or less reflections of the kiwi with ranges between 20-30 pips for the most part so far today.

The sentiment in yen pairs is also helped by the fact that S&P 500 futures are also trading near the highs for the day, recovering off the lows posted earlier in the Asian session.