Light Selling Pressure Hits U.S. Dollar Ahead Of Nonfarm Payrolls

The greenback has conceded some ground in early Asia-Pac trade, with regional players showing little interest in better than expected U.S. data released overnight. Strong data outturns allowed the BBDXY index to print fresh all-time highs Thursday. Headline flow since the Asia open has provided little in the way of notable catalysts.

• USD/JPY oscillates around the Y140.00 mark. The rate slipped below there this morning but then bounced into the Tokyo fix, all within a 39 pip range. Japanese officials strengthened their rhetoric on FX moves, as might have been expected given that USD/JPY printed multi-decade highs Thursday. Chief Cabinet Sec Matsuno said the authorities are watching FX moves with a strong sense of urgency, adding that rapid moves are undesirable.
• The kiwi dollar trades on a softer footing. New Zealand's terms of trade index fell 2.4% Q/Q in the three months through end-Jun, but the initial reaction to the release was virtually non-existent. The drop in terms of trade was sharpest in almost two years.
• The Asia-Pac economic docket offers little of real note, with all eyes on U.S. NFP data. Apart from the jobs report, U.S. durable goods & factory orders, German trade balance & Norwegian unemployment will also cross the wires.