Early focus moved to a statement from NY......>

FOREX: Early focus moved to a statement from NY Fed, which downplayed Thursday's

speech from its President Williams. The speech prompted investors to raise bets

on a rate cut at the next FOMC meeting, as Williams stressed the need for

central banks to respond quickly in times of economic difficulties. The later

statement, however, clarified that the speech was purely academic in nature and

did not refer to policy action at the next FOMC meeting.

- The greenback rallied on headlines re: NY Fed's statement and remains the best

G10 performer despite paring most of its initial reaction gains.

- Safe havens have come under pressure as regional stocks have advanced.

Meanwhile, positive risk sentiment has aided NZD & CAD. GBP has also been solid

in a likely continuation from yesterday, when it drew support from a solid UK

retail sales print & positive news on the Brexit front.

- Focus turns to U.S. U. of Mich. Sentiment (p), Canadian retail sales, German

PPI and UK public finances data. Fed's Bullard and Rosengren are the last Fed

speakers before the blackout period; the latter will speak on a panel with BoJ

Gov Kuroda.