Antipodean cross AUD/NZD is the big mover, but only in relative terms, with volatility subdued in a generally quiet start to the Asia-Pac session, which sees the region mull the latest round of hawkish Fedspeak. The pair has added 18 pips to last trade at NZ$1.1435, creeping towards its recent cyclical high of NZ$1.1462. Gains for the spot rate come despite a downtick in Australia/New Zealand 2-Year swap spread in early dealing.
- The BBDXY keeps grinding away from fresh all-time highs (1,356) lodged in NY hours, despite modest weakness in U.S. Tsy space as cash trading re-opened in Tokyo.
- Spot USD/JPY operates ~10 pips shy of neutral levels, with the Nikkei 225 easing off this morning. Japan's benchmark stock index deals 0.5% lower at typing.
- Australian retail sales headline the Asia-Pac data docket today, with U.S. pending home sales & flash wholesale inventories due after hours. The central bank calendar remains busy, a long list of speeches includes comments from ECB Pres Lagarde & Fed Chair Powell.