Kiwi holds modest gains in steady trading so far
There isn't any major movements in the currencies space with the kiwi being the only notable mover as it gains some ground ahead of European trading. Short covering since yesterday is part of the story but also earlier, we heard from RBNZ governor, Adrian Orr, saying that he's "not particularly worried" about the slowdown in the New Zealand economy.
Other than that, the aussie is also a tad higher but nothing really too notable. The rest of the major currencies bloc are still trading sideways against the dollar with narrow ranges still prevailing for the most part.
After today, Japan will be observing a 10-day break so be wary of thinner liquidity in the coming sessions during Tokyo hours and that has helped to precipitate some yen strength overnight as traders fear a repeat of the January flash crash.
Looking ahead, US Q1 GDP data will be the main focus of trading today so expect that to dictate market sentiment in the sessions ahead.
