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USD Index Sits Sub Tuesday Cyclical Highs

FOREX

Early G10 FX trade has been muted. The BBDXY sits below 1278, off Tuesday highs, which came in just above 1279, before the sharp pull back in USD/JPY.

  • USD/JPY has drifted a little higher in early dealings today, moving modestly away from opening levels near 149.00 (last near 149.15). New wire comments (BBG & RTRS) have crossed from Chief Currency Diplomat Kanda who refused to confirm whether Japan intervened in FX markets on Tuesday. Outside of that not much fresh insight came out of the comments.
  • AUD/USD sits near 0.6305/10, a touch above session lows of 0.6398. Earlier final September reads for the Judo Bank PMIs showed an upward revision to services 51.8 (form 50.5), which pushed the composite index to 51.5 (from 50.2).
  • NZD/USD is back close to 0.5910. Dips towards 0.5900 have been supported in early trade. The RBNZ decision coming up is the main focus point for the Asia Pac session.
  • In the cross asset space, moves have been muted for US Treasury and equity futures in early dealings.
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