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A fairly quiet night in forex, the US.........>

FOREX
FOREX: A fairly quiet night in forex, the US dollar once again the main driver
of price action. The dollar is higher in Asia, DXY last up 0.044 at 89.11,
seeing a pop after a sell off in UST's saw the 10-Year yield rise above the
2.68% threshold. The higher yield saw a flurry of activity and drove the dollar
higher, pressuring USD crosses. USD/JPY rose to session highs of 108.99 before
dropping back slightly to 108.72 last, up 14 pips on the session. Yen also
seeing some weakness after the BoJ said Kuroda did not revise inflation outlook
in Davos. GBP/USD and EUR/USD both fell, but EUR was slightly more resistant to
selling after an upbeat ECB rate announcement last week.
- An FT story out overnight got some attention, the article said that the UK are
seeking powers to vet new EU laws during the transition in an attempt to wrest
back some control and appease hardline Brexiteers. The article says this could
threaten Brexit talks, GBP/USD dropped to a session low of 1.4107 before
bouncing to 1.4143.
- AUD and NZD both weaker, pressured by a drop in metals, Iron Ore is down 1.05%
which has hit the commodity currencies. AUD/USD last down 14 pips at 0.8096.

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