Early impetus for G10 FX is seeing gains against the USD. We are seeing modest JPY and CHF outperformance, although overall moves are modest at this stage. The USD BBDXY index is off 0.10% to sub 1229. 

• Early focus is on firmer US Tsy futures. The 10yr is pressing higher, although is still sub intra-session highs from Thursday's session. Speculation from media outlets (WSJ/FT) on the size of the first Fed cut has driven sentiment since late in the US session on Thursday. US Tsy yields are around 2-4bps softer across the benchmarks in early Friday trade.
• USD/JPY got to lows of 141.35 in latest dealings, around 0.30% stronger in yen terms. The pair is sub intra-session lows from Thursday, but Wednesday lows at 140.71 are intact. USD/CHF is back under 0.8500, 0.20% firmer in CHF terms.
• AUD and NZD have both ticked higher, but gains are less than 0.1% at this stage. AUD/USD last near 0.6725, while NZD/USD is at 0.6185. Earlier data showed the NZ PMI rising but still comfortably in contraction territory.
• US equity futures are a touch higher in early dealings.
• The data calendar is very light today with G10 FX markets likely to be focused on US yield trends.