The kiwi is dragged lower as the market sees higher odds of a 25 bps rate cut
I documented the kiwi's current predicament here earlier and that summarises the trading sentiment in the currency so far today. It is the weakest performing major currency amid some minor/decent movement elsewhere.
The yen and franc are a tad weaker with USD/JPY starting to climb towards 109.20 levels, though the risk mood is less suggestive of a significant lift in yen pairs for now.
US-China trade talks continue to be the key driver in that aspect and so far we're not hearing of anything new to start the week.
The pound is holding steady after posting gains overnight, with Farage offering a boost to Johnson in his election bid to gather a majority parliament. Cable trades in a 16 pips range so far today with buyers still unable to crack above the key hourly moving averages.
Looking ahead, we'll have some economic data to move things along but I would still watch for any developments in US-China trade talks to be the next big catalyst in markets.
