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Calm Before BoJ MonPol Decision, Greenback Edges Lower

FOREX

The gauge of greenback strength (DXY) has slipped in early trade, with U.S. participants due to return to the market after a public holiday. The USD has softened even as U.S. Tsy yields have edged higher across the curve, with 2-year yield crossing above the 1% mark.

  • The Antipodeans sit below neutral levels in muted Asia-Pac trade, despite generally positive showing from regional equity benchmarks.
  • The yen holds a tight range ahead of the imminent announcement of a monetary policy decision from the BoJ. USD/JPY overnight implied volatility is fairly subdued, as the key policy settings are expected to remain unchanged, albeit any language tweaks will be eyed.
  • Today's data highlights include UK jobs market data, German ZEW Survey, U.S. Empire Manufacturing Survey & Canadian housing starts. Speeches are due from ECB's Villeroy & Riksbank's Ingves.

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