-After a relatively quiet start to the US.....>

FOREX: -After a relatively quiet start to the US session, momentum picked up on

a break through session lows for USD/JPY, prompted by a poor showing from US

equities and a strong day for Treasuries. Lower Treasury yields, particularly in

the short-end saw markets bid the JPY higher which, in turn, pressed through

Y129 and to the lowest levels since early September.

-While the moves weren't particularly headline driven, reports from Europe

remain risk-negative with Brexit progress seemingly slowing to a crawl and the

EU commenting that Italy's planned budget deviation is 'unprecedented'. As a

result, EUR and GBP sit generally lower.

-The poorest performing FX Thursday were Scandis, with SEK and NOK both dented

by souring sentiment poor commodities prices. CNH fell also, with USD/CNH on

track to test the August highs of Cnh6.9586.

-Attention turns to Japanese September CPI, UK PSNB figures, Canadian CPI and

retail sales and US existing home sales. BoJ's Kuroda, Fed's Bostic and Kaplan

and BoE's Carney are also due to speak.