Softer tones prevail as we get the session underway
- Eurostoxx -0.4%
- Germany DAX -0.7%
- France CAC 40 -0.5%
- UK FTSE -0.6%
- Spain IBEX -0.6%
The softer risk mood in Europe comes alongside pressure on bond yields, with 10-year Treasury yields seen down by 2.6 bps to 0.662% currently. That is helping to underpin the Japanese yen as we see USD/JPY slip to a low of 105.44 on the day.
Elsewhere, US futures are still keeping closer to flat levels but are staying more subdued. In the major currencies space, the dollar is still facing pressure across the board with EUR/USD near 1.1900 and GBP/USD closing in on its early August highs @ 1.3170-86.