USD Dips Supported, AUD and NZD Down On Weaker HK/China Equities

The BBDXY ranges have been relatively tight to start the week. We got to lows of 1257.21, but we now sit slightly higher for the session, last near 1258.33. AUD and NZD have underperformers, as Hong Kong and China equities have seen renewed weakness on property developer concerns.

• Helping the USD at the margin has been a slightly offered tone to USTs, with yields recouping some of Friday's losses. The 10yr sits +2bps higher to 4.455%, while the 2yr is down a touch.
• US equity futures have firmed as well, +0.28% for Eminis.
• This hasn't helped AUD or NZD a great deal though, with the weaker HK/China equity performance outweighing. Iron ore is also down. AUD/USD last tracked near 0.6425, -0.25% versus NY closing levels from Friday. NZD/USD is down to 0.5950, off by a similar amount.
• USD/JPY got to fresh highs near 148.50 in early trade, but had no follow through. We are back at 148.40 now. BoJ Governor Ueda will reportedly talk soon, followed by Deputy Governor Uchida. Ueda will be speaking in Osaka.
• Looking further ahead, the German IFO is tap, while Lagarde also speaks. In the US the Dallas Fed survey is due, while we also here from the Fed's Kashkari.