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Yen remains more open to European markets



Important currencies are in a more defensive position before European trading.

  WCRS 27-08
ForexLive

The yen is leading gains on slightly weaker bond yields, but also as the Chinese yuan weakens after the PBOC set the currency lower again today. The offshore yuan is currently trading at $ 7.17 per dollar:
  USD / CNH D1<div class="e3lan e3lan-in-post1"><script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>
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As a result, the Australian and kiwi are holding back today as key currencies track their moves overnight. Meanwhile, the dollar is holding steady against the euro and pound, with EUR / USD only in a range of 9 pips (!).

Share sentiment remains modest as US futures are close to flat levels and Asian equities are doing slightly better Government bond yields are somewhat weaker but not overly overwhelming to point to a strong risk sentiment.

In the future, risk sentiment will be a key factor in market sentiment even in times of month-end trading.

] As I said yesterday, I still find the markets too optimistic about Trump's comments on trading. Perhaps we can see today how the currencies track back a part of it.


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