Dollar softens as stocks push higher on the session

S&P 500 futures now up by 1.4%

E-minis 07-05

Meanwhile, European equities are also at session highs and extending gains from the open earlier as we get things going.

In the currencies space, the dollar is on the back foot as we see AUD/USD rise to a high of 0.6474 before backing off a little amid a test of the 200-hour moving average.

Meanwhile, cable also jumped above 1.2400 briefly before sitting just under the figure level now with EUR/USD also starting to test waters back above 1.0800.

The yen is also not spared from the more positive risk mood as USD/JPY sits higher at 106.31 currently, while yen pairs are all higher across the board as well.

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