ASIA-PAC FX UPDATE: DXY remains subdued after recent losses heading into the FOMC meeting which Cook and Miran will attend

DXY: -0.1%

• Remains subdued after weakening yesterday alongside softer US yields and with the greenback not helped by a drop in the NY Fed Manufacturing Survey. Participants now await Industrial Production and Retail Sales data scheduled later today, while the FOMC will also begin its 2-day policy meeting which will be attended by Fed's Cook and Miran, after a US Appeals Court denied the Justice Department's request to put on hold a judge's ruling temporarily blocking Trump from removing Cook, and the US Senate confirmed Miran to join the Fed board.

EUR/USD: +0.1%

• Benefitted from the recent dollar weakness and with ECB officials reiterating that interest rates are at a good place.

GBP/USD: +0.1%

• Held on to the prior day's spoils after returning to the 1.3600 handle but with further upside capped ahead of UK employment and earnings data, as well as US President Trump's state visit to the UK.

USD/JPY: -0.1%

• Mildly breached through the previous day's trough amid a softer dollar and as lower US tariffs for Japan took effect today.

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

• Price action is rangebound amid a quiet overnight calendar and after comments from RBA Assistant Governor Hunter provided little to shift the dial in which she noted they are close to getting inflation to the target and that risks around the outlook are balanced.

16 Sep 2025 - 04:19- ForexAsian Research- Source: Newsquawk