[MARKET ANALYSIS] Muted FX trade as all eyes turn to Warsh's Fed chair debut

DXY: FlatLacks direction overnight after softening yesterday alongside a decline in yields and lower oil prices, while the focus will be on Fed Chair Warsh's handling of the Fed and his first post-meeting press conference. Expectations are for him not to participate in the dot plot and to lean dovish; however, an open-minded approach from Warsh would surprise markets and likely act as support for the dollar, while the statement will likely see the Fed easing bias language removed and a lack of forward guidance.EUR/USD: FlatPauses overnight after it returned to 1.1600 territory on the back of the recent dollar weakness and as comments from ECB officials remained hawkish.GBP/USD: FlatTrades little changed amid the muted performances across currencies and ahead of UK inflation data.USD/JPY: -0.1%Trades rangebound and remains at the 160.00 handle despite the recent BoJ rate hike, while recent data releases were mostly better-than-expected, as with Japanese Machinery Orders and Exports topping forecasts.Antipodeans: AUD/USD Flat / NZD/USD FlatLack direction amid the mixed risk appetite and absence of pertinent tier-1 data, while all eyes turn to the Fed.