After a quiet Asian & European session,.......>

FOREX: After a quiet Asian & European session, U.S. traders bid up the greenback

against almost all other FX ahead of Fed Chair Powell's testimony. Powell's

initial commentary came and went with no mention of the yield curve and largely

repeated recent commentary on inflation, growth and trade wars - leaving USD

with little reason to rally further.

- GBP was a slightly different story, dropping sharply (GBP/USD dropped below

$1.31) as markets speculated the government would lose a Commons vote and be

forced to pursue Customs Union membership in a 'no deal' Brexit scenario.

Nonetheless, PM May narrowly avoided defeat (largely due to threats of a fresh

election), helping GBP off the lows, but still ensuring that it was the worst

performer in the G10 space.

- NZD/USD has now retraced all of its RBNZ sectoral CPI gains, as the USD

strengthened.

- UK inflation, Fed Chair Powell's 2nd testimony, Fed's George & Final Eurozone

CPI provide the focal points on Wednesday.