Yen leads the charge as equities sentiment remains soft

Author: Justin Low | Category: News

The Japanese yen is leading the major bloc as we begin the session

Yen pairs across the board are trading near the lows for the day as the currency is gaining on the back of softer risk sentiment seen in the equities space. Asian stocks are hit hard as the Fed reiterated its commitment to hike rates at every other meeting overnight. Wall St's poor showing isn't helping and E-minis are down about 0.1% now as we begin European trading.

Meanwhile, the dollar is continuing where it left off after retracing post-midterm election losses and extended its gains overnight after the Fed cleared the path for a move higher. Only the yen is performing better than the dollar as we get going in the session.

The rest of the major bloc is weighed lower against the two currencies above with the pound sitting at the bottom as a result of jitters surrounding Brexit optimism and with key data to come - Q3 preliminary GDP - in just over the next two hours.

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