USD Edges Higher, Antipodeans Lag Behind

Modest defensive flows took hold in Asia-Pac trade as regional headline flow failed to provide anything to bolster market sentiment. Regional risk barometer AUD/JPY backed off a multi-year high, as the Antipodeans landed at the bottom of the G10 pile, while the yen got some reprieve in the wake of its recent sharp sell-off.

• The greenback crept higher along U.S. Tsy yields as Fed's Bullard reiterated his view that policymakers should act more aggressively. Demand for U.S. dollar pushed USD/JPY higher, but yesterday's cycle high remained intact.
• Offshore yuan regained poise after the PBOC set the mid-point of permitted USD/CNY trading band 23 pips below the expected level. This allowed USD/CNH to ease off after a brief look above yesterday's high.
• The Norwegian krone garnered some strength ahead of today's monetary policy decision from Norges Bank, even as Brent crude oil futures pulled back into the red.
• Today's data highlights include U.S. jobless claims & durable goods order as well as a slew of PMI readings from across the world. Central bank speaker slate features several Fed, ECB & BoE members.