[MARKET ANALYSIS] DXY pauses after recent gains, while yen outperforms despite a lack of drivers and is unfazed by weak Japanese data

DXY: Flat Takes a breather after gaining yesterday amid a rise in long-term yields, albeit with some of the gains pared following dovish remarks from Fed's Williams, who sees no need for urgency after the September rate hike and noted there is time to gather more information to provide greater clarity on the underlying economic trends and associated risks, while participants now await a slew of data including final Q2 GDP and the Fed's preferred PCE inflation gauge. EUR/USD: Flat Trades sideways after having trickled lower for most of the prior day despite hawkish-leaning rhetoric from ECB officials, but with a floor seen after dovish comments from Fed's Williams provided some relief for the single currency. GBP/USD: Flat Struggles for direction after recently giving up ground to the greenback and with the currency not helped by PM Burnham's vow to scrap the pension triple lock, although downside was cushioned by support near the 1.3200 level. USD/JPY: -0.5% Retreated beneath the 157.00 handle and breached a weekly low, despite the lack of obvious drivers behind the move and with Japan's currency unfazed by disappointing domestic activity data. Antipodeans: AUD/USD -0.3% / NZD/USD +0.1% Mixed price action with AUD/USD pressured following a slew of data, including the softer-than-expected headline monthly inflation and a worse-than-feared contraction in building approvals, but with the downside stemmed as participants also digest the encouraging Chinese PMI releases.