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USD Struggles For Any Upside, A$ Eyeing 0.7100 Handle

FOREX

The USD is not getting much traction from the negative equity futures lead (-0.45%/-0.75%), led by the Nasdaq. The BBDXY was last around 1224, slightly below NY closing levels. Most currencies are being supported on dips against the USD.

  • AUD/USD remains the best performer, with a full hike basically priced for the Feb meeting, post the earlier CPI beat. The currency currently sits at 0.7080/85, just off session highs above 0.7090.
  • AUD/NZD also continues to trend higher, last at 1.0935 (nearly +1% for the session), the pair eyeing mid Jan highs just above 1.0950. NZD/USD is off lows, last around 0.6475/80.
  • EUR and JPY are largely track recent ranges. EUR/USD last at 1.0890, USD/JPY 130.20/25 against earlier highs of 130.46. US cash Tsy yields are mixed.
  • The data calendar is light for the remainder of the Asia Pac session.
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