[MARKET ANALYSIS] DXY is rangebound following recent indecision owing to mixed geopolitical signals

DXY: +0.1%

• Dollar is rangebound after the prior day's indecisive performance as oil prices and yields fluctuated at the whim of the mixed signals regarding the progress of US-Iran talks, including reports that a final draft of the US-Iran agreement had been reached with the mediation of Pakistan, although this was later refuted. It was also reported that the Pakistani army chief would not be travelling to Tehran on Thursday as previously hoped, while there were conflicting reports on Iran's stance on enriched uranium being transferred out of the country. Participants also recently got to digest a slew of data releases, which were ultimately mixed and provided little direction for the greenback.

EUR/USD: Flat

• Trades little changed after whipsawing through the 1.1600 level and with very quiet newsflow from the bloc.

GBP/USD: Flat

• Conforms to the humdrum mood in its major counterparts following mixed PMI data and with little reaction to the rhetoric from BoE's Taylor, while the latest UK Retail Sales data looms.

USD/JPY: +0.1%

• Price action continues to linger around the 159.00 focal point, with little reaction seen following the softer-than-expected Japanese inflation data, which showed core inflation retreated further below the 2% price goal and printed its softest reading in more than four years at 1.4% (exp. 1.7%).

Antipodeans: AUD/USD -0.1% / NZD/USD Flat%

• Lack of conviction in the absence of pertinent tier-1 data releases and despite the constructive mood.