The yen is sitting higher amid the softer risk mood to start the day
Asian equities are subdued while US futures are trading lower by around 0.2% currently but weaker bond yields is the thing to take note of as US 10-year yields is seen lower by 2.5 bps to 1.454% at the moment.
That is helping to keep the yen underpinned as we begin European trading with USD/JPY holding under the 106.00 handle once again, around 105.90 now.
Other major currencies are holding in narrow ranges for the most part with the franc gaining some light ground with the dollar looking more steady overall.
The kiwi is the laggard after business confidence data fell to an 11-year low earlier in the day and the softer risk mood isn't helping with sentiment either. NZD/USD continues to trade at near four-year lows with further support only seen closer to 0.6237-44.
Looking ahead, the risk mood will remain a key driver of trading sentiment today amid potential Brexit headlines again. The pound has been resilient in navigating through fears of a no-deal outcome yesterday so let's see if buyers can build on that in the session ahead.
