Safe Havens Underperform Amid Higher US Equities/Lower Tsy Futures

Yen weakness (and to a lessor extent CHF weakness) have been the early G10 FX trends. AUD and NZD are also higher against the USD and these safe havens.

• USD/JPY got to 145.55 in earlier dealings, but sits slightly lower now at 145.40 currently, still 0.80% weaker in yen terms. Recall yesterday's early highs were at 146.66, so we haven't breached that level yet.
• Better than expected Japan wages data for June just released hasn't impact sentiment, although household spending stayed soft.
• AUD/USD is back to 0.6530, +0.30% higher. NZD/USD at 0.5950/55, is up 0.20% firmer.
• Cross asset trends are supporting a more 'risk on' feel to markets. US equity futures sit up 0.80% for Eminis, +1.1% for the Nasdaq, after Monday's continued rout in the space.
• US Tsy futures are down slightly in the 10yr for the first part of trade, but still above Monday intra-session lows. Earlier comments from the Fed's Daly, which appeared to play down the extent of job market weakness from Friday's jobs report may be applying some pressure in this space.
• Such Tsy moves would also be working against safe haven FX.