[MARKET ANALYSIS] DXY firmer on haven appeal, G10s subdued across the board to various degrees

Dollar benefitted overnight from the mild losses in its major peers and with some haven appeal following the US intervention in Venezuela, with President Trump stating that the US will 'run' Venezuela and 'fix oil infrastructure', while he also signalled potentially widening their focus in the region to Cuba and Colombia - Full Newsquawk Analysis available on the headline feed.
"Given the uncertainty about how the next few days will pan out, investors will probably prefer the liquidity of the dollar", suggests the analysts at ING, whilst adding that "Away from Venezuela, the dollar could also be enjoying some delayed buying interest after the blow-out 4.3% quarter-on-quarter annualised US third quarter GDP figure released on 23 December."
Aside from that, little to mention on FX during the European session thus far. JPY sees shallower losses than other peers on haven appeal, although the CHF has plumbed the depths, although no obvious catalysts to explain the downside. GBP narrowly outperforms the as the cross fell under 0.8700 for the first time since Oct 2025. AUD and NZD are both subdued by the Buck, although the AUD/NZD cross remains above 1.1600 amid firmer copper prices.