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Tight Ranges

FOREX

G10 currency pairs respected tight ranges in muted Asia-Pac trade, with participants assessing the economic outlook in light of latest data.

  • Light selling pressure hit USD/JPY in early hours but the pair recouped losses over the Tokyo fix, returning to neutral levels.
  • The rebound in USD/JPY coincided with an uptick in U.S. Tsy yields. The pair clung onto gains even as yields pulled back and sit in negative territory across the curve.
  • USD/JPY one-year risk reversal oscillated within a narrow range, holding above par.
  • The kiwi dollar underperforms its G10 peers ahead of tomorrow's Monetary Policy Statement from the RBNZ.
  • AUD/NZD remained above its 100-DMA after probing the water below that moving average on Monday.
  • German ZEW Survey, UK jobs data, U.S. industrial output & housing starts as well as Canadian CPI take focus from here.
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