Aussie, kiwi leads gains as markets are looking more cheerful to start the week
The focus on risk sentiment remains the key driver in markets as we start the day and the slight rebound in Chinese PMI figures earlier is continuing to keep risk assets more buoyant as we begin the European morning.
The aussie and kiwi are the lead gainers as a result, though both currencies are holding in a narrow range (<30 pips) against the dollar but are trading near the highs at least. On the flip side, the yen is the laggard as equities are posting solid gains and as bond yields rise following a torrid time last week.
Of note, 10-year Treasury yields are up by 3 bps to 2.435% currently while 10-year bund yields are up by 3 bps to -0.04% - set for its biggest one-day jump in a month.
As the risk-on mood sweeps across markets, the dollar is also holding slightly weaker against the likes of the euro and pound. The latter will be of heavy focus in the evening as Westminster prepares for another round of indicative votes.
