[MARKET ANALYSIS] DXY takes a breather ahead of looming risk events, while antipodeans outperform amid a surge in tech stocks and ahead of a widely-expected third consecutive RBNZ rate hike tomorrow

DXY: Flat Takes a breather after gradually strengthening on Monday as currency-specific newsflow remains light, and with participants awaiting this week's scheduled risk events, including the FOMC, BoJ and ECB meetings, the UK Budget, US PCE and three Mag-7 earnings reports. As such, the focus so far has been on geopolitics and AI sentiment, while ING wrote that the balance of risks suggests the dollar can probably hold onto its gains, and that, barring some clearly underwhelming Q3 results from the likes of Alphabet and Microsoft, higher energy prices and a hawkish Fed can keep the dollar supported this week. EUR/USD: Flat Lingers around the prior day's trough after recently dipping beneath the 1.1200 level amid relatively quiet newsflow from the bloc and with the ECB expected to stand pat on rates later in the week. GBP/USD: Flat Lacks direction after trickling lower yesterday, although the downside was limited ahead of the looming Budget announcement, with Chancellor Healey to announce plans to increase the minimum wage by nearly 4%, while slowing the rise for younger workers, amid warnings that young people were being priced out of jobs. USD/JPY: +0.1% Kept afloat after recently climbing back above the 157.00 level owing to the firmer buck and amid the rally in Japanese stocks, while participants continue to await the Fed and BoJ policy meetings. Antipodeans: AUD/USD +0.2% / NZD/USD +0.5% Outperformed amid a surge in tech stocks and ahead of tomorrow's RBNZ rate decision, with money markets pricing an over 93% likelihood that the central bank delivers its third consecutive rate hike.