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Nikkei 225 on the back-foot, weighs on Yen crosses

FXStreet (Bali) - The Japanese benchmark index Nikkei 225 failed to track Friday´s gains in the SP500, and is trading on the back'foot in early trade, circa 18,200 or -0.48%, having broker through support at 18,240.

In Australia, the sentiment towards the ASX200 is not as pessimistic, with the index up coming down an early 0.20% lead to now orbit between a flat line and -0.05%. The Australian index was given the early boost, in part thanks to a 4.5% rise in Westpac valuation following the completion of its entitlement offer.

Meanwhile, in the US, the SP500 futures index has also come under mild pressure, last at 2,021.00 or -0.19%. In the big scheme of things, the market continues to swing between risk on and risk off legs, still to determine a dominant sentiment, amid the lack of clarity on Central Bank monetary policy decision, with the timing of a Fed rate hike still the hottest topic to define.

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Valeria Bednarik, chief analyst at FXStreet explained that the British Pound gave back some ground on Friday, but closed the week with solid gains against the greenback, around 1.5440.
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