Yen Loses Ground As EUR/USD Falls, But Remains Within Recent Ranges

USD/JPY tracks near 144.50 in early Thursday dealings. Yen lost 0.44% for Wednesday's session as the USD recovered some ground against the G10 currencies. Yen losses were around mid-range versus the rest of the G10. USD/JPY intra-session highs were just above 145.00, while early Wednesday lows were 143.69, which keeps us in recent ranges.

• EUR, off nearly 0.60%, was the weakest G10 performer. This helped the DXY rise 0.50%, the BBDXY index gained 0.35%. Eurozone money and lending data pointed to a continuation of soft credit dynamics, and this has likely weighed on the single currency at the margin.
• This likely saw some negative spillover for JPY. In the cross asset space, US equity benchmarks fell, led by the tech side, the Nasdaq off 1.12%.
• This came ahead of Nvidia earnings, which were better than expected, but the stock is down in after hours trading as the earnings call continues. This could impact US equity futures and broader risk appetite in the near term.
• Both AUD and NZD finished marginally higher against yen for Wednesday's session.
• US yields were a touch higher, but in a quiet session overall for US TSYs, with few catalysts.
• On the data front today we have weekly offshore investment flows for Japan. Consumer confidence prints later.