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The dollar is on the back foot as we get things going in the new day, as we see a more risk-on tilt ahead of European morning trade.
Asian equities are generally higher, though Chinese stocks are dragged lower by property shares for the most part. But US futures are sitting more optimistic and that is fueling better risk sentiment so far on the day.
Treasury yields are also marked higher with 10-year yields hinting at a breakout, trading up 4 bps to 0.83% - the highest level since early June.
That does throw some questions about the reflation trade and what the market is anticipating amid continued stimulus talks and how election odds are being priced in.
Back to the dollar, it is being stretched technically with EUR/USD now at a one-month high near 1.1850 on a break above the 9 October high @ 1.1831.
There is some resistance from the 61.8 retracement level of the swing move lower from 1.2011 to 1.1612 @ 1.1859 but there is little else in the way stopping a push towards the late September highs around 1.1890-17 next.
Meanwhile, GBP/USD is looking to try and keep above its 200-hour moving average @ 1.2973 but the daily trendline resistance - now @ 1.2993 - and the 1.3000 handle still poses some key challenges for buyers as the Brexit standoff continues this week.
Elsewhere, AUD/USD is looking to make some positive progress as it moves towards its 100-hour moving average @ 0.7077 and NZD/USD likewise trying to keep above its own 100-hour moving average @ 0.6602.
On the latter, keeping above the 100-day moving average @ 0.6587 will also be a key challenge ahead of the close later today.
Other than that, GBP/JPY continues to see price action more trapped around its key daily moving averages @ 136.32-53 for the most part while EUR/JPY is continuing to push towards some short-term resistance closer towards 125.00.
And amid the possible reflation trade narrative in bonds, gold is also aiming for a topside breakout with price trading up 0.6% to $1,918 to start the day.
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