[MARKET ANALYSIS] DXY gains amid haven appeal and higher oil prices

DXY: +0.2%

• Dollar is supported by a haven bid as the rise in oil prices stokes inflationary concerns and a push back in Fed rate cut bets, with money markets now only fully pricing in one rate cut by the Fed this year and not until December, while recent US data had little effect as headline and core CPI matched forecasts.

EUR/USD: -0.3%

• Remained pressured amid a firmer buck and energy-related disruptions, while there were recent comments from ECB officials, including Schnabel, who noted monetary policy is in a good place and that they must monitor the persistence of the energy price shock.

GBP/USD: -0.3%

• Trickled beneath the 1.3400 handle with cyclical currencies weighed on by the risk-off environment, while data also showed UK RICS House Price Balance deteriorated.

USD/JPY: +0.2%

• Edged higher to return to the 159.00 handle owing to a firmer buck and recent upside in US yields, while the higher oil prices add to the headwinds for Japan.

Antipodeans: AUD/USD -0.2% / NZD/USD -0.2%

• Price action is subdued owing to their high-beta characteristics, and with pressure in metal prices, although downside is cushioned as the oil-related pressures spur hawkish central bank calls with ANZ and Goldman Sachs joining the rate hike camp for next week's RBA meeting.