Dovish comments from RBA Governor Lowe........>

FOREX: Dovish comments from RBA Governor Lowe prompted AUD to extend yesterday's

weakness. According to the Gov's speech, we can expect an "extended period of

low interest rates," whether or not the central bank eases policy further, which

board members are prepared to do if needed. Lowe noted that evidence does not

support changing the RBA's inflation target, which is now flexible enough. In

Q&A he added that these remarks are not a shift to forward guidance.

- The AUD sell-off applied fresh pressure to NZD, already the worst G10

performer. Lowe's speech came after the kiwi took an early hit as Westpac

boosted their RBNZ easing forecast, adding an additional quarter-point rate cut

in Nov on top of their earlier call for a cut of an analogical size in Aug.

- A firmer Nikkei 225 & Gotobi day in Japan did not prevent JPY from topping the

G10 pile, while an uptick in WTI might have lent some support to CAD.

- KRW softened, ignoring a better than exp. GDP print out of South Korea.

- On today's docket are German Ifo, U.S. durable goods & earnings reports from

Amazon, Alphabet et al. Main focus falls on ECB MonPol decision, while Turkey's

CBRT sets policy for the fist time after the replacement of its chief.