[MARKET ANALYSIS] Dollar takes a breather in uneventful FX trade and after strengthening again yesterday

DXY: Flat Takes a breather after gaining yesterday as higher US yields continued to offer an attractive rate differential environment for the buck, while the moves were an extension of the impact from the hawkish comments from Fed's Waller and the hotter-than-expected CPI readings earlier in the week. Nonetheless, there was plenty of Fed speak during the prior day, including from Hammack, who said rates need to move higher to reach a restrictive stance, while Daly noted her bias is that further tightening will be needed, and Goolsbee stated the Fed should be mindful of signs the economy is overheating, with participants now turning their attention towards the incoming PPI data. EUR/USD: Flat Price action is contained after recent weakness, while prior hawkish comments from ECB's Kazaks that a December rate hike was likely and that further tightening was necessary did little to spur the single currency. GBP/USD: Flat Lingers near its lowest levels in almost a month after recent dollar strength and despite the acceleration in quarterly GDP in the UK, which printed in line with expectations. USD/JPY: +0.1% Looks to retest the 160.00 level to the upside, which it briefly breached through yesterday before suddenly retreating, which sparked some intervention and rate-check speculation, while there was some slight jawboning from Japanese Finance Minister Katayama, who said they are seeing one-sided, rapid forex moves, and will communicate with the US Treasury and respond accordingly. Antipodeans: AUD/USD Flat / NZD/USD Flat Trades little changed amid the uneventful mood across the FX space and a very quiet overnight calendar.