Greenback grinds higher as USD/JPY hits new...>

FOREX: Greenback grinds higher as USD/JPY hits new YTD high

-Rallying US Treasury yields, modestly positive equity markets and little

newsflow to distract helped give the greenback a leg higher Monday, prompting

USD/JPY to show above Y110 for the first time since late December. USD/JPY

appeared to accelerate on the move through the handle, topping out at Y110.16

before retracing slightly.

-Newsflow was few and far between, with the bulk of data crossing in the

European morning: UK construction PMI was the highlight, falling well below

expectations and keeping GBP/USD south of $1.31 for much of the day. Bears eye

key support at the $1.3036 200-dma.

-Currencies largely tread water ahead of no less than 10 major central bank rate

decisions, most notably from Australia Tuesday and Bank of England Thursday.

-Tuesday focus turns to Australian retail sales and trade balance, the RBA rate

decision (Exp. unch), final January PMIs from across the Eurozone and US and the

ISM non-manufacturing PMI. Fed's Mester is also due to speak on the economic

outlook, but is not currently a voter on the FOMC.