A quiet night in Asia after yesterday's.......>

FOREX: A quiet night in Asia after yesterday's rout, the big mover early on was

the Kiwi dollar after labour market data. The jobless rate fell to 4.5% in Q4,

the lowest since the December 2008 quarter, employment grew 0.5% q/q, higher

than 0.3% rise expected. The data initially saw a jump in NZD/USD to session

highs of 0.7351 before gradually paring the rise throughout the Asia session.

While headline was strong a slowing in labor cost index and increase in spare

capacity in the economy means the Reserve Bank's monetary policy is likely to

remain on hold for longer. Market has one eye on the RBNZ rate announcement at

2000GMT/0700AEDT. NZD/USD last at 0.7310.

- USD/CAD saw a slight bid in Asia after dumping during US hours, the pair last

up 19 pips at 1.2510 having touched lows of 1.2492. While the pair did decline

on Tuesday it has risen around 2% (250 pips) since the start of trade on Friday.

- Yen strengthened despite the risk on tone and rise in Japanese stocks. USD/JPY

hit highs of 109.72 but touted offers ahead of 109.80 pressured the pair lower -

also some take of profit taking from Japanese buyers, last down 26 pips at

109.29. EUR/USD and GBP/USD slightly higher on mild USD weakness.