[MARKET ANALYSIS] Dollar is flat in quiet FX trade after the recent temperamental geopolitical backdrop

DXY: Flat

• Trades little changed following the recent mixed performance against G10 FX peers as geopolitical news dominated the tape owing to the weekend escalations between Iran and Israel, although tensions have since simmered down after Trump got involved, with both sides halting strikes but have vowed to retaliate if fighting begins again, with Iran warning of a "severe" response if the Israel Defence Forces continues striking southern Lebanon.

EUR/USD: +0.1%

• Ekes slight gains after rebounding from yesterday's floor around the 1.1500 level and with the single currency contained by a lack of fresh catalysts from the bloc.

GBP/USD: +0.1%

• Marginally edges higher but with price action contained amid a light calendar for the UK for most of the week until Friday's monthly GDP and output data, while it was also reported that UK's Andy Burnham is poised to delay any Labour leadership bid until after the battle to retain the Greater Manchester mayoralty, which is likely to provide further breathing room for UK PM Starmer.

USD/JPY: Flat

• Lacks firm direction after recent swing through the 160.00 level, with participants tentative ahead of next week's BoJ meeting, and are on the lookout for any intervention signals.

Antipodeans: AUD/USD Flat / NZD/USD Flat

• Conformed to the uneventful trade across the FX space with AUD/USD and NZD/USD both flat, despite the better-than-expected Chinese trade data from Australia and New Zealand's largest trading partner.