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In the red against G10 into the EU Govie open

USD
  • The USD remains in the red against G10s, and has been for the past 5 days, with the SEK up 2.05% and the best performer for that period.
  • Although the Yen is up overnight and this morning, the Currency is still down 1.51% versus the Greenback for that same period.
  • Risk On tone on the hope of a less aggressive rate hike path from the Fed, has been the main driver.
  • The Yen is the best performer in early trade, up 0.52% and testing the 130.00 handle, but trading circa yesterday's mid range.
  • Support would be seen further out, at the 129.15/129.04 area.
  • GBP, AUD, and EUR also test session lows against the JPY in early trade.
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