The dollar is holding firmer for the most part, only weaker against the aussie and kiwi - which continue to outperform over the past month or so. EUR/USD is keeping below 1.1000 to 1.0950 while USD/JPY has surged by over 100 pips to above 123.00.
The latter comes as bond yields globally are continuing to break higher. 10-year Treasury yields are up 2 bps to above 2.51%. Meanwhile, 10-year JGB yields are hitting the BOJ implicit cap of 0.25% and that has prompted the central bank to step in.
The overall risk mood s more tentative to start the day with a nine-day lockdown announced in Shanghai. US futures are down around 0.3% ahead of European morning trade.
There isn't much on the economic calendar today so expect the focus to stay on the bond market and the yen mostly. The only thing to note is that the clocks have changed in Europe over the weekend due to daylight savings.
0800 GMT - SNB total sight deposits w.e. 25 March
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.