It's all looking rather tentative so far in European morning trade, as major currencies are not showing much appetite. The dollar is mostly little changed, with only the kiwi lagging against the rest of the majors. This comes as stocks are also mixed and little changed, although bond yields are slightly lower on the day. Here's a snapshot of dollar pairs at the moment:
US futures are flattish while 10-year Treasury yields are down 4.3 bps to 4.494% currently. There's not much reaction in broader markets to the latter but we could get see some action perhaps once US traders come in. There is also some pushing and pulling still going on after yields did climb in trading yesterday, so traders are having still having some mixed thoughts.
The dollar looked to be on the cusp of a breakdown and we're still sitting thereabouts for the time being: Has the dollar finally gone past the apex?
