The risk mood is calmer on the day but investors are still understandably cautious after the selling from last week. Stocks in Europe have pared gains somewhat after the opening hour and that is not leaving FX traders with much to work with.
EUR/USD is up 0.3% to 1.0940 as the euro stays buoyed after ECB policymakers have chosen to brush aside the softer economic data since Friday. Lagarde was the latest with this set of remarks here.
Besides that, the dollar remains little changed elsewhere with only the antipodeans seeing minor gains. That comes after China’s intervention on the yuan, though AUD/USD is now up just 0.3% to 0.6690 from a high of 0.6720 earlier here.
As risk tones are faring better, so are Treasury yields so far today at least, and that is keeping USD/JPY in the hunt towards 145.00 still:
USD/JPY daily chart
The yen is also capitulating further against the euro and pound, with EUR/JPY rising to fresh highs since 2008 of 157.20 while GBP/JPY is on the verge of an upside push to its highest levels since 2015 at 182.90 currently.