The kiwi is the leader on the day so far after getting a bit of a boost from the slightly upbeat CPI report earlier in Asian trading. The relative strength of the Chinese yuan is also helping to feed gains into both the aussie and kiwi as well to start the day but in general there's a hint of risk-on in the FX space to begin the session.
The euro and pound are relatively subdued in trading so far while the yen is the laggard on the day after the BOJ moved to cut its inflation outlook earlier. A slump in exports in Japan's latest trade balance data isn't really helping either.
Looking ahead, risk will continue to be the main theme in markets for direction but look out for more Brexit headlines to follow as we await the latest developments on May's strategy to tackle the current deadlock. 65 days to go. Tick tock, tick tock.
That aside, keep an eye out on bank stocks later in European trading as the Fed is said to probe Deutsche Bank over suspicious transactions from Danske Bank. The inquiry is said to not be public but will surely only add to the misery of Deutsche after the bank experienced a torrid time last year.
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