Dollar a little more mixed in trading so far today

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Yen weakness the dominant theme in the major currencies space

USD/JPY is keeping higher, up by over 0.4% to 114.16 currently near the highs for the day as the prevailing theme to start the session has been that of yen weakness.

10-year Treasury yields are up 2 bps to 1.54% so that is helping to underpin yen pairs and I detailed more on the technicals on that earlier here.

Going back to the dollar, it is tough to make much of trading sentiment at the moment with EUR/USD still looking sticky around 1.1600. GBP/USD is trading up by 0.3% to 1.3720 as cable buyers try for another push above 1.3700 after yesterday’s attempt fizzled off.

But commodity currencies are the more interesting ones with USD/CAD hovering around 1.2340-50 at the moment, flirting with another daily drop (fourth consecutive one potentially) as oil prices are also looking perky with Brent clipping $85 earlier.

AUD/USD is flat on the day and still toying around with its 100-day moving average at 0.7411 but NZD/USD is at least keeping a slight advance of 0.2% to 0.7050 as buyers look to hold above its own 100-day moving average @ 0.7020.

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This article was originally published by Forexlive.com. Read the original article here.