The Japanese yen leads gains as the rest of the major bloc remains subdued
The yen made its move in early Asian trading with USD/JPY slipping from around 112.20 to just under the 112.00 handle, where it still trades at currently. I can't see much reasoning for the move as it came before the BOJ monetary policy decision but just be reminded that Japan will observe a 10-day break after the end of this week so there's potential position covering to factor in for yen moves before the weekend.
Other major currencies are tepid with ranges kept around 0.03% against the dollar. The greenback advanced yesterday, with the dollar index hitting near two-year highs as EUR/USD firmly fell below the 1.1200 handle in overnight trading.
As it stands, the dollar remains the best bet among a bad bunch and the Bank of Canada's decision to move to a more neutral stance overnight continues to solidify that notion.
Looking ahead, risk sentiment is a little mixed in Asia while US equity futures and Treasuries aren't really offering much direction to begin the European morning. Hence, the ebb and flow will continue to dictate play ahead of US data to come later.