There was little to cause much movement across major FX rates during the session. Markets shrugged off the North Korean ballistic missile launch, the projectile was aimed at the East Sea (Sea of Japan) without overflying Japan nor landing in its economic zone.

Asian equity markets mainly softened and this has translated into some yen gains (minor only) on a haven bid.

Data flow was light, Australian job advertisement (not a top-tier release) fell in December after huge rises in October and November.

The minutes of the December Federal Open Market Committee policy meeting will be published Wednesday afternoon, US time. Preview and links to other previews in the bullets above.

USD/JPY lost a few tics:

usdyen wrap chart  05 January 2022