USD Atop G10 FX Table, Asia FX Volumes Around Typical Norms

Desks note that Asia-Pac interbank FX turnover was roughly in line with the recent norms (if anything <5% below recent averages), with impending U.S. event risk (Fed & QRA) limiting activity.

• Post-big tech earnings weakness in e-minis helped support the USD (top of G10 FX performance table), while the BoJ benefitted from some hawkish snippets in the summary of opinions covering the BoJ meeting.
• Elsewhere, CNH looked through roughly in-line official PMI prints out of China, while AUD finds itself at the foot of the table on the back of heavier volume surrounding softer-than-expected domestic CPI data (NZD weakness vs. broader G10 peers was seen on trans-Tasman data spill over, albeit with AUD/NZD still 25 pips lower on the day).