BBDXY Little Changed, Antipodeans Struggle, JPY Volatile After BoJ Tweak

The broader USD (as measured by the BBDXY) is little changed in early London dealing, while the JPY found itself at the top of the G10 FX table after the BoJ’s YCC tweak, before fading from best levels as Governor Ueda’s post-meeting press conference gets underway (USD/JPY sits around the middle of a 300 pip session range).

• Conversely, the Antipodeans find themselves at the foot of the G10 FX performance table, with softer than expected retail sales data out of Australia (drawing further questions re: the viability of an RBA hike at next week’s meeting, with just 5bp of tightening now showing in RBA-dated OIS) weighing.
• Softer NRW regional CPI data out of Germany had little lasting impact on the EUR.
• Comments from BoJ Governor Ueda & CPI data out of Germany, France & Spain present the immediate risk events of note, before U.S. data crosses during the NY morning. We will also hear from ECB’s Simkus and see the release of the ECB’s survey of professional forecasters.