[MARKET ANALYSIS] DXY lacks direction after geopolitics dominated weekend newsflow

DXY: FlatLacks direction amid rangebound trade across most of the FX space, and with the greenback's major counterparts ultimately mixed, while weekend was newsflow dominated by geopolitical-related headlines.EUR/USD: FlatTrades indecisively but had recovered from an early dip beneath the 1.1500 handle to return to flat territory, with very little in the way of pertinent FX-related drivers from the bloc, while ECB's Schnabel had commented on Friday that there is no need to rush into action and they have time to analyse the data.GBP/USD: FlatLanguishes near last week's trough at sub-1.3300 territory amid quiet UK-specific newsflow and with the improvement in UK Lloyds business barometer failing to spur any reaction.USD/JPY: -0.2%Trickled lower following comments from officials including Japan's top FX diplomat Mimura who said bold action may be needed if the situation in the Middle East continues and that they are targeting all fronts in the market for action, while BoJ Governor Ueda said will guide policy appropriately by scrutinising how FX moves could affect the likelihood of achieving growth and price forecasts as well as risks. Furthermore, the Summary of Opinions from the March meeting revealed the central bank debated the need for more rate hikes at the March meeting, and some members signalled the need to accelerate rate increases.Antipodeans: AUD/USD -0.2% / NZD/USD -0.3%Antipodeans are subdued amid the downbeat risk appetite and with the PBoC setting a weaker-than-expected yuan fix.