[MARKET ANALYSIS] DXY remains firmer amid higher oil prices and after the US 10yr yield breached 5% for the first time since 2023

DXY: +0.2% Extends on recent gains amid higher oil prices and with the US 10yr yield breaching 5% for the first time since 2023, while participants await the looming key central bank rate decision beginning with the FOMC on Wednesday, with money markets pricing an 84% chance of the Fed hiking rates. EUR/USD: -0.1% Remains subdued after giving up ground to the firmer buck and with the single currency also failing to benefit from the recent hawkish-leaning comments from several ECB speakers. GBP/USD: -0.1% Retreated back beneath the 1.3500 handle following its recent choppy performance and lack of pertinent catalysts, although the latest UK employment and average earnings data releases are due later. USD/JPY: +0.4% Continued its rebound and eyes a retest of resistance at the 155.00 level amid higher US yields and gains in oil. Antipodeans: AUD/USD -0.1% / NZD/USD -0.2% Demand is contained after mixed Chinese activity data and weaker New Zealand Electronic Card Spending data.