The DXY edged higher overnight as US..........>

FOREX: The DXY edged higher overnight as US 10-Year yield consolidated ~3.00%.

Liquidity was diminished as Australia & NZ observed ANZAC Day.

- USDJPY has had a couple of looks >109.00, last 109.02, printing highs of

109.06 aided by the consolidation in US yields & Takeda-Shire M&A developments.

JPY crosses have garnered additional support from reports of less USD hedging by

Japanese lifers & a warmer tone between the US & North Korea in recent sessions.

- GBP appreciated in the early part of the session after Shire revealed that it

is willing to recommend the revised Takeda M&A proposal to shareholders. While

any M&A flow will provide short term respite, the recent run of soft UK economic

data & more measured rhetoric from the BoE has clipped the wings of the bulls

for the time being. GBPUSD last unch at 1.3980 on the modest USD strength.

AUDUSD & NZDUSD shed 20 pips a piece, with a lack of domestic catalysts apparent

owing to the national holidays. EURUSD traded at the whim of broader USD

sentiment, last at ~1.2220. 

- Wednesday's docket is particularly light. ECB's Villeroy, Knot & Lane will

speak, with BoC's Poloz & Wilkins set to appear in the Senate.