USD Off Smalls, But Doesn't Make Fresh Lows

The BBDXY index has tracked late NY ranges through today's Asia Pac session. We currently sit at 1236.50, down slightly on closing levels. As was the case during the NY session, dips towards 1235 have seen USD support emerge, but we haven't seen much upside momentum either. The market may be awaiting fresh cues with a host of central bankers due to speak later at a Riksbank conference.

• Yen initially strengthened on a firmer core CPI reading but this proved to be short lived. We eventually hit a low of 131.39 post the Tokyo fix. After this we steadily recover back to 132.00 before selling interest emerged (the pair last 131.75).
• AUD/USD dipped towards 0.6890 as risk appetite in the equity space faltered, but we are now back to 0.6910/15, close to flat for the session. Higher iron ore, back to $119/ton has provided a positive offset.
• NZD/USD has outperformed slightly, last near 0.6385 (+0.15% for the session).
• Outside of the upcoming central bank speak, data events are fairly light, with US small business optimism and wholesale inventories on tap.