The yen is also a bit on the back foot too now
Markets are starting to turn around and that is helping fuel further run in major currencies against the dollar and the yen on the day. The aussie has almost pared all of its losses against the greenback from earlier in the session too.
Italy's FTSE MIB is the lead gainer in the equities space turning a red performance into gains of more than 1% now. The mood there is helping to lift regional equities off their lows too. Although the rest of the equities space are still seeing red, the losses are not as bad as what they were an hour ago.
Meanwhile, Treasury yields have also recovered to be near flat at the moment. 10-year yields is unchanged on the day and that is helping to provide some relief for risk trades.
