Dollar pairs are generally little changed as the bond selling from Friday and yesterday is taking a bit of a breather – for now at least. 10-year Treasury yields are down just 0.6 bps to 4.262% on the day, not really hinting at much so far in European trading. That is keeping major currencies rather stuck with light changes overall:
The ranges are modest but not exactly exciting, especially for European currencies. The yen did earlier gain with USD/JPY slipping to 147.03 but has now recouped losses to 147.50 levels on the day.
In the equities space, we are still observing a more tentative and cautious mood. European indices are down 0.5% to 0.8% while S&P 500 futures are also seen down 0.2% currently.
It all comes down to what the bond market has to say later and we have to wait on US traders to deliver their verdict on that.