[MARKET ANALYSIS] DXY is rangebound in quiet FX trade as geopolitics continues to dominate headlines

DXY: +0.1%

• Dollar trades rangebound with a lack of conviction after softening yesterday as the haven play took a breather alongside the improvement in risk sentiment, while there is a lack of firm conviction across the FX space with most major pairs choppy amid the current geopolitical backdrop and as jobs data looms.

EUR/USD: Flat

• Takes a breather after its recent return journey from a brief dip to sub-1.1600 territory, while participants look ahead to EU Retail Sales and ECB Minutes, as well as comments from ECB's Lagarde and de Guindos.

GBP/USD: Flat

• Struggles for direction and lingers beneath the 1.3400 level, with very little fresh pertinent drivers and amid a very quiet calendar for the UK for the remainder of the week.

USD/JPY: -0.1%

• Price action is choppy with early pressure seen amid firmer yields and inflationary concerns, although the pair is off worst levels amid the upbeat mood across the Asia-Pac region.

Antipodeans: AUD/USD Flat / NZD/USD Flat

• Antipodeans trade little changed but held on to the prior day's risk-inspired spoils, while they largely ignored mixed Australian trade data and the PBoC's CNY fix, which was set at its strongest in almost 3 years.