Yen Firms, NZD Pressured In Asia

Yen is the strongest performer in the G-10 space at the margins, firming after Ueda was confirmed as the government's nomination for BOJ Governor.

• USD/JPY sits ~0.4% softer, extending a touch in recent trade, last printing at ¥131.80/90. In early trading the Yen had seen some moderate pressure as Q4 GDP printed below expectations. Final print of Industrial Production rose in Dec, the MoM measure was up 0.3% from -0.1% prior, however, in YoY terms it fell 2.4%.
• NZD is the weakest performer in G-10, NZD/USD is down ~0.2%. Kiwi was pressured as 2-year inflation expectations moderated from cycle highs to 3.3%. NZD/USD found support below its 50-day EMA and last prints at $0.6345/50.
• AUD/USD is marginally firmer, up ~0.1%. The pair was pressured in early trade before finding support at $0.6950, paring losses to last print at $0.6970/75.
• EUR and GBP are both up ~0.1%.
• Cross asset flows are mixed. E-minis are down ~0.1%, and DDXY is also down ~0.1%. 10 Year US Treasury Yields sit ~1bps lower.
• U.S. Jan CPI provides today's highlight, prior to that UK Labour Market Survey and Eurozone GDP are on the wires. There is also a slew of Fed speakers and the ECB's de Guindos will also cross.