Greenback Pressured In Asia

The Greenback has been pressured through the Asian session, a continuation of the recent move lower in USD/JPY which printed its lowest level since mid-June has spilled over into broader USD weakness ahead of today's CPI print.

• USD/JPY prints at ¥139.50/60, the pair is ~0.6% lower. There was no obvious headline driver with pre-US CPI positioning and technical flows weighing on the pair. The next support level is ¥139.18, 38.2% retracement of Mar-Jun bull leg.
• AUD is the strongest performer in the G-10 space at the margins. AUD/USD is up ~0.6% last printing at $0.6720/25. The next upside target is $0.6806 the high from June 22. Firmer commodities have aided the bid in AUD with Iron Ore futures up ~2.4% and Copper up ~0.7%.
• Kiwi is ~0.5% firmer despite the RBNZ's decision to hold the OCR steady at 5.50%. NZD/USD sits a touch above the 200-Day EMA, a level which bulls have not been able to sustain a break of.
• Elsewhere in G-10 EUR and GBP are both ~0.2% firmer. The Scandies are up, NOK and SEK are both ~0.4% higher, however liquidity is generally poor in Asia.
• Cross asset wise; BBDXY is down ~0.3% and US Tsy Yields are a touch lower. E-minis are ~0.1% higher and Hang Seng is up ~1%.
• The highlight of today's docket is the latest US CPI print, the MNI preview is here.