NZD/JPY Up 1% Post NZ Jobs Data, Safe Haven FX Losses, BOJ Speech Coming Up

JPY losses and NZD gains are the early G10 FX focus points. USD/JPY got to highs of 145.09 in early dealings, last near 144.90, around 0.40% weaker in yen terms. This still leaves us within Tuesday ranges though. Highs were at 146.36 yesterday.

• CHF is also weaker, down by 0.20%, with early trends seeing further safe haven underperformance.
• US equity futures are weaker in the first part of trade, but are away from worst levels. Eminis last -0.25%, Nasdaq futures off 0.40%.
• NZD/JPY gains are around 1%, the pair last near 86.70/75, still well short of Monday's highs around 87.48.
• Earlier data showed stronger than expected Q2 NZ jobs data along with a smaller than expected rise in the unemployment rate. This has seen August cut pricing trimmed for the RBNZ.
• NZD/USD was last at 0.5985, unable to breach the 0.6000 handle. The AUD/NZD cross is back to 1.0900 (off nearly 0.50%), with AUD/USD steady around 0.6520.
• Coming up at 10:30am Japan time we have a speech from BoJ Deputy Governor Uchida.
• Earlier comments from Japan ruling party heavyweight Ishiba stated the BoJ was on the right track with its policy shifts and that it should explain the benefits of higher rates to the Japan public.
• We have also BoJ Rinban Ops soon, then later on China trade data will print.