After a somewhat quieter start to.............>

FOREX: After a somewhat quieter start to Wednesday's session for the USD (much

of the focus was on the EUR & GBP), a break higher in U.S. Tsy yields helped

boost the greenback into the close & press the likes of AUD, JPY, EUR & NZD to,

or close to, multi-week lows. The moves in the dollar & U.S. bonds follow the

strongest headline reading for ISM non-m'fing since records began & strong ADP

employment data. Markets also remain cognizant of upside surprise risks for this

Friday's NFP release.

- Fed Chair Powell triggered a further USD bid late on, as he noted that "very

accommodative policy is no longer appropriate in the current environment, which

calls for interest rates to very gradually move toward neutral. We may go past

neutral, but we're a long way from neutral at this point."

- The DXY registered a fresh high on the move, allowing USD/JPY to register a

fresh YTD high, with EUR/USD breaking below $1.1500. AUD, NZD continued to

struggle, extending the move that began in Asia-Pacific trade.

- Focus Thursday turns to U.S. factory orders & durable goods, Australian trade

data, as well as addresses from ECB's Nowotny & Hansson.