<p style=““ class=“text-align-justify“>The dollar was <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-slightly-on-the-weaker-side-to-start-the-new-week-20230116/“ target=“_blank“ rel=“follow“>slightly softer initially</a> and then <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-recovers-some-poise-on-the-day-20230116/“ target=“_blank“ rel=“follow“>was bid to start the session</a> but all the flurry is dying down now and markets are keeping more settled. On the balance of things, the greenback is little changed with USD/JPY being arguably the only notable mover with the pair up 0.3% to 128.20-30 levels currently but off its earlier high of 128.86:</p><p style=““ class=“text-align-justify“>Other dollar pairs have also retreated from their earlier range extremes and are keeping little changed mostly. EUR/USD is flattish around 1.0825, off its earlier low of 1.0801. GBP/USD is down 0.2% to 1.2200 but off its earlier low of 1.2170. Meanwhile, AUD/USD is down 0.1% to 0.6965 and also off its earlier low of 0.6940.</p><p style=““ class=“text-align-justify“>Elsewhere, European indices are also holding just a touch higher, with gains around 0.2% to 0.3% mostly. The US stock market may be closed today but S&P 500 futures are down 0.3% but also off earlier lows seen in early European morning trade. The technical picture is one to watch this week as highlighted earlier <a target=“_blank“ href=“https://www.forexlive.com/news/eurostoxx-futures-03-in-early-european-trading-20230116/“ target=“_blank“ rel=“follow“>here</a>.</p><p style=““ class=“text-align-justify“>To summarise, the dollar bid earlier has faded and broader markets are keeping little changed amid a lack of key drivers to start the new week.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>Knock, knock. Is anyone still there at the BOJ office? 10-year JGB yields are rising up to 0.52% and pushing the boundaries of the upper limit set out via last month’s policy tweak i.e. 0.50% currently. Be reminded that the central bank bought roughly ¥5 trillion of bonds on Friday – its largest daily operation on record – and also stepped in with another ¥1.3 trillion worth of purchases today.</p><p style=““ class=“text-align-justify“>Is the market pressure enough to force another adjustment by the BOJ? That will certainly be one to watch this week. I shared some thoughts earlier <a target=“_blank“ href=“https://www.forexlive.com/news/the-risks-are-skewed-towards-disappointment-for-yen-bulls-this-week-20230116/“ target=“_blank“ rel=“follow“>here</a>.</p>

This article was written by Justin Low at www.forexlive.com.