Yen Appreciates Following Comments, Rest Of G10 Little Changed

Following the post-CPI jump in the greenback (BBDXY USD index +0.6%), it has been trading sideways and is little changed during the APAC session. As a result most of the G10 is also steady against the dollar with yen posting the largest move.

• USDJPY is down 0.2% to 150.56, close to the intraday low of 150.53. Japanese officials said they were prepared to intervene at any time after the pair rose above 150 for the first time since November in yesterday’s NY session, but the comments haven’t yet brought it back below that level. EURJPY is down 0.1% to 161.27.
• Aussie is little changed against most currencies so far today despite weaker equities. AUDUSD fell sharply on Tuesday and is now slightly higher at around 0.6458 after an intraday low of 0.6446. It has gained 0.1% against the yen at 97.23. AUDNZD is steady around 1.0650.
• NZDUSD is unchanged at 0.6064 after a low of 0.6051 earlier. January card spending data rebounded after falling in December and January inflation components were all higher on the month.
• European currencies are also holding steady against the greenback.
• Later the Fed’s Goolsbee and Barr speak as well as BOE’s Bailey, ECB’s de Guindos and Cipollone. There is no data in the US but UK January CPI/PPI and euro area Q4 preliminary GDP/employment and December IP print.