Greenback Marginally Firmer, Ranges Narrow In Early Trade

The USD is a touch firmer in early trade on Tuesday paring Tuesdays losses, BBDXY is up ~0.1%, however ranges across the G-10 space remain relatively narrow. US Equity futures are a touch pressured, also marginally trimming yesterdays gains. US Tsys have pared early gains and now sit little changed across the curve.

• Yen is marginally pressured, USD/JPY has ticked away from the ¥149 handle rising ~0.2% to last print at ¥149.30/35. Technically the uptrend remains intact. Resistance comes in at ¥150.78, high from Oct 26, and ¥151.95, high from Oct 21. Support is seen at 147.98, the 50-day EMA.
• AUD/USD is ~0.1% lower however a narrow ~10 pip range has been observed. Technically the trend outlook is bearish, support comes in at $0.6270 low from Oct 26 and key support. Resistance comes in at $0.6411, 50-Day EMA.
• Kiwi is also trimming some of yesterdays gains, NZD/USD is down ~0.1% although like the wider space narrow ranges are persisting.
• Elsewhere in the G-10 space EUR and GBP are a touch below opening levels.
• The latest monetary policy decision from the BoJ provides the highlight in Asia today. As highlighted in our MNI BOJ Preview (see here), most market participants do not foresee any changes to YCC today, although many hesitate to completely rule out the possibility.