[MARKET ANALYSIS] DXY remains afloat following recent gains, in uneventful overnight trade

DXY: +0.1%

• Kept afloat after rebounding yesterday alongside a recovery in oil prices, despite the geopolitical updates remaining positive. Nonetheless, the Strait of Hormuz is still largely closed, while talks between the US and Iran have no set date, although Trump claimed Iran agreed to hand over enriched uranium and that the next meeting may take place over the weekend, while he also said it is looking very good that a deal will be made with Iran.

EUR/USD: Flat

• Price action is contained after marginally softened on Thursday, and with little reaction seen from the ECB Minutes or slew of comments from central bank officials, including ECB's Kazaks, who said that every meeting is a live meeting and a lot can happen until the April meeting.

GBP/USD: Flat

• Remains subdued with some headwinds seen as PM Starmer faces increased criticism and calls to step down due to the Mandelson vetting scandal, which has led to top Foreign Office official Olly Robbins leaving his post.

USD/JPY: +0.2%

• Extended on advances after reclaiming the 159.00 level and following the recent unwinding of BoJ April rate hike bets, while there were comments from BoJ Governor Ueda, who reiterated that monetary conditions remain highly accommodative, with Japan's real interest rate low, and that BoJ will decide policy based on the likelihood of forecast materialising and risk at each meeting.

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

• Trades rangebound amid the overall uneventful mood across the FX space and in the absence of tier-1 data.