Risk-off tones still prevailing in the market
The Nikkei is trading at session lows now down 0.6% while the Hang Seng index is also lower by 0.8% now. Chinese stocks are still not looking too bright despite the PBOC's actions over the weekend, with the Shanghai Composite now falling 0.1% after the break.
Meanwhile, US 10-year yields are also near the lows for the day down 2.4 bps to 2.871%.
And all of that is helping to feed flows into the yen as we start off the week. Meanwhile, commodity currencies aren't having the best of times with the aussie, loonie, and kiwi all sitting at the bottom of the pile.
Ranges have been a little narrow still though to start the day and the euro and sterling are near unchanged against the dollar. Let's see if we get any extension of the moves in European trading later:
- EUR/USD - 27 pips
- USD/JPY - 65 pips
- GBP/USD - 33 pips
- USD/CHF - 33 pips
- USD/CAD - 33 pips
- AUD/USD - 27 pips
- NZD/USD - 26 pips
