ForexLive European FX news wrap: Dollar poised again as yields move off lows

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/treasury-yields-pare-declines-all-to-play-for-in-us-trading-later-20230829/">Treasury yields pare declines, all to play for in US trading later</a></li><li><a href="https://www.forexlive.com/centralbank/rbas-bullock-inflation-is-still-too-high-that-will-be-my-first-priority-as-governor-20230829/">RBA's Bullock: Inflation is still too high, that will be my first priority as governor</a></li><li><a href="https://www.forexlive.com/centralbank/rbas-bullock-climate-change-likely-to-lead-to-more-volatile-inflation-outcomes-20230829/">RBA's Bullock: Climate change likely to lead to more volatile inflation outcomes</a></li><li><a href="https://www.forexlive.com/news/germany-september-gfk-consumer-sentiment-255-vs-243-expected-20230829/">Germany September GfK consumer sentiment -25.5 vs -24.3 expected</a></li><li><a href="https://www.forexlive.com/news/france-august-consumer-confidence-85-vs-85-expected-20230829/">France August consumer confidence 85 vs 85 expected</a></li><li><a href="https://www.forexlive.com/news/china-reportedly-to-cut-borrowing-costs-on-mortgages-as-soon-as-today-20230829/">China reportedly to cut borrowing costs on mortgages as soon as today</a></li><li><a href="https://www.forexlive.com/news/japan-reportedly-considers-to-extend-fuel-subsidies-until-year-end-20230829/">Japan reportedly considers to extend fuel subsidies until year-end</a></li></ul><p>Markets:</p><ul><li>USD leads, JPY lags on the day</li><li>European equities slightly higher; S&amp;P 500 futures down 0.1%</li><li>US 10-year yields flat at 4.211%</li><li>Gold down 0.1% to $1,917.10</li><li>WTI crude up 0.6% to $80.61</li><li>Bitcoin down 0.1% to $25,962</li></ul><p>It was a quiet session for the most part but things are starting to pick up now in the handover to North America trading.</p><p>Major currencies saw little appetite despite London coming back today while equities also looked more tentative after a bit of an optimistic start. US futures were up around 0.2% earlier on but are now down slightly as we see Treasury yields turn around as well on the day.</p><p>10-year yields were down to around 4.175% earlier on but are now flat at 4.211% and that is helping to underpin the dollar as well.</p><p>USD/JPY in particular is jumping up to around 147.00 from around 146.50-60 levels earlier in the day, while GBP/USD is retreating back to 1.2590 from a high of 1.2635 earlier in the session.</p><p>Outside of the two pairs, the dollar is little changed and stuck in narrower ranges against the rest of the major currencies. Even AUD/USD which was up to around 0.6455 earlier is now down 0.6420 but that represents a measly 35 pips range on the day.</p><p>With month-end and the US jobs report still the bigger focus points this week, there's still plenty to play for in the meantime.</p>

This article was written by Justin Low at www.forexlive.com.