Muted Start On Friday, Yen Pars Early Gains

There has been a muted start to Friday's trade in G-10 FX. Yen was a touch stronger in the wake of the Tokyo CPI print however gains pared as there was little follow through on the initial move.

• USD/JPY prints at ¥136.65/75, marginally below yesterday's closing level. The pair initially softened post Tokyo CPI prints, headline and core-core measure were a touch firmer than expectations, support was seen ahead of ¥136.50 as the pair pared earlier losses.
• Kiwi is little changed this morning, narrow ranges have been observed with little follow through on moves. ANZ Consumer Confidence fell in February. The Index printed 79.8, down -4.3%, as continued RBNZ tightening and the impact of Cyclone Gabrielle are felt.
• AUD/USD prints at $0.6735/40, ~0.1% firmer this morning. The final read of Judo Banks Feb Composite and Services PMI was on the wires this morning, the measures are a touch above 50 in expansionary territory. Jan Home Loan data is on the wires shortly, a fall of 3.0% is expected.
• EUR and GBP unchanged this morning, narrow ranges have been observed thus far.
• Cross asset wise; US Equity Futures are a touch softer and US Treasury Yields are ~1bp firmer across the curve.
• Caixin Services and Composite PMIs from China headline in Asia. Further out the ISM Services survey provides the highlight ahead of the weekend.