Greenback Pressured In Asia

The post-CPI move lower in the USD has marginally extended in Asia on Thursday, BBDXY has breached post CPI lows and sits down ~0.15%.

• Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD is up ~0.5%, the pair last prints at $0.6325/30. Bulls now target the high from 11 May ($0.6385).
• AUD/USD is ~0.4% firmer, the pair has extended gains through the session and sits at session highs. A move above 0.6828 a retracement level, would open up mid June highs around 0.6900.
• Yen is little changed, USD/JPY briefly dealt below its post CPI lows before support was seen and losses were pared.
• Elsewhere in G-10 EUR and GBP are ~0.2% firmer and CHF printed its highest level in 8 years. USD/CHF sits at 0.8650/60.
• Cross asset wise; regional equities and US equity futures are firmer benefitting from the improving risk sentiment. Hang Seng is up ~2.5% and e-minis are up ~0.3%. 2 Year US Tsy Yields are ~4bps lower.
• In Europe today we have May GDP from the UK, further out US PPI and Initial Jobless Claims cross.