Dollar Index Steady, USD/JPY Makes Fresh Highs, But No Follow Through, Ueda Speaks Later

It has been a fairly muted start for the majors in Monday Asia Pac dealing so far. The BBDXY is sitting a touch below Friday NY closing levels, last near 1257.60. Highs from last week rest near 1260.

• In the cross asset space, US government bond yields are mixed. 2yr is near 5.11%, around flat, while the 10yr is up a touch towards 4.45%, we remain below Friday highs above 4.50% though. In the equity space, US equity futures are close to flat at this stage.
• Focus is likely to rest on USD/JPY. The pair getting close to 148.50 earlier (fresh highs for the year), we now sit back at 148.40/45, little changed from Friday closing levels.
• BoJ Governor Ueda speaks later today in Osaka (06:30 BST per Bloomberg). Focus will be on the BoJ's policy outlook, with the Governor generally coming across as dovish at Friday's press conference post the BoJ policy meeting. Littel push back from BoJ officials on the dovish outlook risks undermining yen, although the market is likely to remain wary of FX intervention risks.
• Note BoJ Deputy Governor Uchida will reportedly speak about an hour after Ueda.
• EUR/USD is steady near 1.0650. French Central Bank head Villeroy said over the weekend the recent spike in oil prices won't derail efforts to bring inflation back to target.
• AUD/USD is a touch firmer, last near 0.6445, NZD steady at 0.5960.
• The data calendar is light today, with markets on headline watch/equity sentiment ahead of Ueda's speech later.