Yen Pressured, Antipodeans Firm In Asia

The Antipodeans have firmed in Asia and are the strongest performers in the G-10 space at the margins. Yen is pressured and is the weakest performer in the space.

• AUD/USD is up ~0.2% and sits at $0.6585/90. A bid in US Equity Futures has aided sentiment today in Asia. Technically bears remain in the driver seat, support comes in at $0.6514 (low from Aug 3) and $0.6485 (low from Jun 1). Resistance is at $0.6630 the high from Aug 2.
• Kiwi is also ~0.2% firmer benefiting from the improving sentiment driven by US Equity futures. NZD/USD sits a touch above the $0.61 handle, however Friday's post-NFP highs remain intact.
• Firmer US Tsy Yields have weighed on the Yen. USD/JPY has trimmed some of Friday's losses and sits a touch above the ¥142 handle. The latest BOJ Summary of Opinions has crossed this morning, one member noted that adjusting YCC has inherent difficulties and that the BOJ should take account of market functioning.
• Elsewhere in G-10, EUR and GBP are marginally softer however ranges remain narrow.
• Cross asset wise; 2 Year US Tsy Yields are up ~5bps. E-minis are ~0.4% firmer, the Hang Seng is ~0.4% lower. BBDXY is little changed on Monday.
• There is a thin data docket on Monday, German Industrial Production for June provides the highlight