Yen Leads Gains, G10 Pairs Rangebound

The yen has taken the lead among G10 currencies, albeit major FX pairs have generally held tight ranges. Familiar geopolitical risk remains in the background, with the U.S. asking its citizens to leave Belarus immediately, but a renewed push for a diplomatic solution to the crisis has seemingly taken the edge off anxiety.

• The latest round of comments from BoJ Gov Kuroda was consistent with previous remarks, as he continued to play down policy exit talk. The official tipped hat to recent yen weakness, noting that it is not boosting import costs by much.
• USD/JPY extended losses into the Tokyo fix, even as it is a Gotobi Day today. Nonetheless, the rate remains within the confines of yesterday's range, with selling pressure amplified by a slip in the DXY.
• Weaker crude oil prices have dented the loonie, which sits at the bottom of the G10 pile. Worth adding that Canadian PM Trudeau invoked emergency powers in response to trucker protests in Ottawa.
• UK jobs market data, German ZEW survey, flash EZ GDP as well as U.S. PPI & Empire M'fing take focus from here. Comments are due from ECB's Villeroy and Riksbank's Floden & Ingves.