Dollar a tad softer ahead of European markets open

Author: Justin Low | Category: News

Aussie and kiwi leads on China pledge to bolster its economy

WCRS 15-03
It's a bit more of a quiet start to the day but commentary coming out of China in support of its economy is helping to boost risk sentiment in Asia and that is helping to give the aussie and kiwi a lift higher as well.

The dollar is sitting at the bottom of the major currencies bloc as it reverses overnight gains with the Chinese yuan also holding steady against the greenback in light of the same reasoning above for the aussie and kiwi.

The pound is much more settled following the volatility over the past few days. With parliament voting to extend Article 50 yesterday, we're headed for yet another meaningful vote on May's deal next week so expect Brexit headlines to center around that later today.

Meanwhile, the yen is nearly flat on the day against the dollar as it balances out the BOJ weakening its economic outlook on exports and production and a report that North Korea is considering to suspend talks with the US on denuclearisation.

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