[MARKET ANALYSIS] DXY marginally softens after Trump paused 50% tariffs on Canada, while FOMC Minutes loom

DXY: -0.1% DXY marginally softens with the greenback giving up ground to the loonie after US President Trump announced a three-day pause of the 50% tariffs on Canada that were due to kick in on Wednesday, as Canada and the US have reached a deal, subject to finalisation of documents. Elsewhere, there were few fresh catalysts for the dollar with headlines mostly centred around geopolitics, while participants await today's FOMC Minutes release. EUR/USD: +0.1% Ekes slight gains against the dollar, but remains confined within a tight range at the 1.1500 handle, after the recent choppy mood and after comments from ECB's Lane did little to shift the dial. GBP/USD: Flat Lacks direction following recent disappointing jobs data from the UK, including a higher-than-expected Unemployment Rate, while participants now await the latest inflation metrics. USD/JPY: -0.1% Slightly pulled back amid a softer dollar and following stronger-than-expected Machinery Orders data from Japan, although price action is only mild and remains in the 159.00 territory. Antipodeans: AUD/USD -0.1% / NZD/USD Flat Languishes around this week's lows with little reaction seen to the firmer-than-expected PPI data from New Zealand and hawkish comments from RBA's Hauser, who noted that inflation is too high and that they will have to raise rates again if it doesn't come down.