JPY was the notable mover on the session. USD/JPY traded from an early session high around 155.20 to lows circa 154.30 before stabilising somewhat (its poking 154.60 as I update).
There was no major fresh news for either the USD or JPY. One item I did note was that plans have firmed up for a meeting between Japan's Prime Minister Shigeru Ishiba and President Trump in Washington on February 7. In the post to let everyone know, I speculated that there might be some currency discussion between the two, a lower dollar and a higher yen would be a win for each of them. I thought perhaps such a discussion would be unlikely, but maybe there was something in it. I can’t find anything else that may have catalysed the move down for the pair today.
One thing I will add is that liquidity was thinner than normal with Hong Kong and Singapore markets out for holidays (mainland China too).
Elsewhere major FX was relatively subdued. As I post the USD is gaining a few tics.
In non-market news, there was a horrendous collision in Washington DC between a military helicopter and a commercial passenger plane. There are multiple fatalities.
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