Greenback Pressured In Asia

The USD is weaker in Asia-Pac today, BBDXY is down ~0.1%, as US treasury yields tick marginally lower.

• USD/JPY sits at ¥136.75/85, ~0.4% firmer today. The downtick in US yields is boosting the yen. The final read of Q4 GDP figures were weaker than expected this morning with QoQ growth of 0.1% vs 0.8% exp.
• AUD/USD is ~0.3% firmer, last printing at $0.6610/15. The next upside target for bulls is the low from 1 March at $0.6695.
• Kiwi is also firmer, NZD/USD prints at $0.6125/30. Card Spending in NZ fell 1.7% m/m in February after the Jan print was revised upwards to 3.4%. Levels of spending remain historically high and well above pre-pandemic levels.
• EUR and GBP are benefiting from the offer in the USD, however moves have been limited and they sit ~0.1% firmer.
• Cross asset wise; S&P500 futures are ~0.1% lower although they were down as much as 0.3%. Hang Seng is ~0.3% firmer.
• There is a thin data calendar in Europe today. Further out we have Challenger Job Cuts and Initial Jobless Claims, elsewhere, comments from Fed VC Barr will cross.