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Yen Sags In Muted Start To Asia-Pac Trade

FOREX

Little to write home on the FX front after Tokyo traders got in, with impetus from the NY session still in play. Major USD crosses hold narrow ranges, while the greenback itself is mixed against its G10 peers.

  • The Antipodeans outperform at the margin, while the yen brings up the rear, albeit the recently printed YtD high in USD/JPY remains almost 20 pips away. Tokyo CPI figures beat expectations, signalling that a multi-month deflationary streak came to an end, with all three main metrics seen at 0.0% Y/Y.
  • U.S. PCE and personal income/spending data provide the main points of note on today's data docket, in addition to the final reading of U. of Mich. Sentiment. Comments are due from Fed's Williams, Mester, Kashkari & Rosengren as well as ECB's de Cos.

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