It almost feels like a recurring theme these days
The major currencies snapshot is reflective of the risk mood seen in markets, with US equity futures are down by 1.1% while Treasury yields are also marked lower (10-year yields down 3.4 bps to 2.43%) as we begin the new week.
This of course comes after US-China trade talks failed to make much new progress as both sides are seen unable to agree on more structural issues, leaving market participants having to wait on further talks in the coming weeks/months.
As a result, the yen is the top performer to start the day on the softer risk mood while commodity currencies are holding weaker with the aussie leading losses, hovering near session lows ahead of European trading.
There isn't much on the economic calendar to really shake things up today so expect risk sentiment and flows to continue to dictate trading direction in the sessions to come.
