[MARKET ANALYSIS] DXY pauses overnight but holds on to recent spoils following encouraging data and hawkish Fed speak

DXY: Flat

• DXY is rangebound overnight but holds on to the prior day's spoils after benefitting from a slew of data in which jobless claims declined and retail sales matched estimates. There were also some recent hawkish Fed comments as Fed's Logan said a modestly higher policy rate would provide a better balance of risks and outlook, and that it was time to finish the job of restoring price stability, while Fed's Schmid said inflation remained concerning and was persistent across a broad range of goods and services.

EUR/USD: Flat

• Struggles for direction after recent declines and remains within the 1.1400 handle amid a lack of catalysts.

GBP/USD: -0.1%

• Trades subdued at sub-1.3500 territory amid the downbeat risk appetite and after UK monthly GDP and output data underwhelmed, while focus in the UK turns to politics, with a changing of the guard, in which Andy Burnham is to take over as leader of the ruling Labour Party later today.

USD/JPY: +0.1%

• Kept afloat and lingers in 162.00 territory after recent gains in US yields and mild upside in oil prices, although upside is limited with Japanese Finance Minister Katayama repeated familiar jawboning.

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

• Price action is lacklustre amid the ongoing tech sell-off and absence of tier-1 data.