Japanese yen lags ahead of European markets open

Author: Justin Low | Category: News

Major currencies have a slight risk-on feel to start the day

WCRS 14-05
ForexLive
The yen is the major laggard as we look to begin the session as markets are turning more optimistic on US-China trade relations as Trump notes that trade talks will be successful in the coming weeks. That has seen USD/JPY push to a high of 109.71 and price continues to trade just under that as we look to begin European morning trade.

Meanwhile, the likes of the kiwi and aussie are also advancing on the more positive risk mood. US equity futures are also trading higher, with E-minis up nearly 0.6%, and US 10-year Treasury yields are also holding higher by 1.4 bps to 2.415%.

The euro also continues to hold resilient as it inches higher against the greenback, nearing the 1.1240 level where large expiries are seen rolling off later today.

It's still largely about risk sentiment in markets right now and as we look to begin the session, so just be wary of changes in the risk mood and further potential headlines when Trump begins tweeting later today.

Otherwise, let's see how well markets can recover and repeat the recurring theme seen last year; that is to fade pessimism on trade headlines time and time again.

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