USD Firms, Equities Under Pressure, Yields Mostly Lower

The USD has tracked higher in recent dealings, the BBDXY up around 0.15% to 1237.40. This leaves us within recent ranges though. Tuesday's US session high was near 1238 (post the JOLTS beat).

• AUD/USD is the weakest performer, down 0.60%, last in the 0.6560/65 region. We had the earlier Q4 CPI miss, along with a slightly weaker than expected manufacturing PMI out of China.
• China equities are lower, with property concerns still evident. Metal commodities are softer in terms of both iron ore and copper, which is a likely drag on the AUD.
• US equity futures also sit comfortably in the red, led by the tech sector after late US earnings misses.
• US Tsy futures briefly popped above Tuesday highs but we have since consolidated.
• The lower US yield backdrop has likely helped yen at the margins. USD/JPY sits unchanged, last at 147.60/65. Earlier lows were just under 147.20, post a hawkish read from the BoJ summary of opinions from the Jan policy meeting.
• JGB futures are up from lows, but holding an offered tone, in contrast to trends elsewhere.