Dollar holds steadier in the major currencies space
The laggards for today are the same suspects, that being the aussie, kiwi and loonie. And all three are not looking good whatsoever from a technical perspective.
The breakdown in CAD/JPY in particular points to all sorts of trouble for the loonie, especially with USD/CAD breaking the July high and looking towards 1.3000 next.
I’d argue that it is tough to see sentiment switch around on a Friday, more so with the bond market (sellers in particular) showing rather little appetite.
With yields continuing to favour a lower pull and risk mired by delta variant concerns, it is tough to find a place for commodity currencies to make a stand.
10-year yields are down slightly to 1.235%, well off the highs earlier in the week at 1.30%.
Elsewhere, US futures are also seen down 0.2% but as we have seen yesterday, dip buyers are still very much in the picture for the time being.