FX Morning Colour: several big figure levels eyed ahead the big US figure

The DXY remains weak overall as its 2018 (and late 2017) bear trend continues, but the index is holding in above 88.500 and some key support levels ahead of the 88.000 level. In fact, the Dollar is firmer vs all G10 rivals as US Treasury yields continue their ascent and some benchmark maturities hit key or psychological levels (long bond over 3% for example). Eur/Usd is pivoting around 1.2500, Cable still finding it tough on advances beyond 1.4200, Usd/Cad sticky circa 1.2300 and similarly Usd/Chf bouncing back towards 0.9300 after forays below. Usd/Jpy is still gradually firming within a wide 109.00-110.00 range, and sniffing out layered offers up to the top of that band, with a 50% Fib at 109.88 also providing some resistance. The Greenback is performing best against its antipodean counterparts, with Aud/Usd remaining top heavy around 0.8000, but underpinned so far by near term support (20 DMA at 0.7978), and Nzd/Usd unable to sustain gains above 0.7400, but finding some support near 0.7350 as the Aud/Nzd cross retreats below 1.0900. Jpy undermined by more aggressive BoJ buying of JGBs overnight, Nzd by weak building permits and the Aud extending recent losses/underperformance on disappointing data and rolled out RBA rate expectations. Ahead, NFP the main Friday focus.