A fairly limited start to the Asia-Pacific....>

FOREX: A fairly limited start to the Asia-Pacific session truth be told. Some

modest pressure on the JPY crosses noted ahead of the Tokyo fix has USD/JPY back

below Y108.00, with bears looking for a clean break below the Y107.77 Jan 10 low

to open the way lower.

- The remainder of the G10 currencies are little moved on the day, after the USD

struggled on Monday.

- Regional focus today will fall on the RBA MonPol decision (with a speech from

RBA Gov. Lowe to follow in the Sydney evening) & tier 1 AU data. Later in the

day Eurozone CPI estimates, as well as U.S. factory orders and durable goods

data provide the highlights. Fedspeak from Powell, Williams & Brainard is

eagerly awaited after dovish voter Bullard's cautious comments on Monday. As a

reminder Bullard suggested that "a downward policy rate adjustment may be

warranted soon to help recenter inflation and inflation expectations at target

and also to provide some insurance in case of a sharper-than-expected slowdown."