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Steady G10 FX Start, Familiar FX Rhetoric From FinMin Suzuki

FOREX

G10 FX markets are off to a relatively steady start in Friday trade. The BBDXY is close to unchanged, last near 1251.30. We are sub intra-session highs from Thursday near 1254, but still comfortably higher for the week, (+0.70%), underpinned by the surge in yields post Wednesday's CPI print.

  • US yields are down a little over 1.5bps at this stage, which may be capping any USD upside. US equity futures sita touch higher after strong cash gains in Thursday trade.
  • USD/JPY is a touch lower, last under 153.20, with familiar FX rhetoric from FinMin Suzuki not shifting the sentiment needle.
  • NZD/USD is up a touch to 0.6000, unfazed by disappointing PMI and card spending figures earlier. Food prices continued to fall as well, down 0.5% (-0.6% fall in Feb).
  • AUD/USD is little changed, last near 0.6540.
  • We have Japan data later (industrial production), along with China trade figures as the main focus points.
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