FOMC minutes saw ltd reaction in the FX.......>

FOREX: FOMC minutes saw ltd reaction in the FX space, after they showed that

almost all participants wanted a rate increase in June, but 1 participant would

have preferred to wait to allow inflation exp. to rise to levels consistent with

the Fed's goal. Most participants noted "uncertainty & risks associated with

trade policy had intensified" & suggested that could eventually negatively

impact business sentiment & investment, pointing out that contacts in some

districts had already scaled back capital spending.

- Despite hawkish remarks from BoE Governor Carney re: temporary Q1 UK econ

slowdown, Brexit headlines continue to dictate price action ahead of Friday's UK

cabinet summit. Reports noting that Germany sees PM May's Brexit workaround plan

as 'unworkable' wiped out cable's European morning gains with a reversal from

$1.3275 to $1.3205. Reports suggest PM May has won over trade minister Fox.

- The USD was weaker across the board with modest gains for EUR, CAD & NZD. Soft

ADP data was countered by improved revisions, ISM Non-mfg beat expectations. SEK

was top of the G10 pile for the third consecutive session.

- U.S. & Canadian labour mkt reports & UK labour costs headline Friday.