FOREX SUMMARY: A calmer afternoon session.....>

FOREX: FOREX SUMMARY: A calmer afternoon session for FX. 

-General trend, was a continuation from Merkel-Macron announcement of a

EUR500bln recovery fund, so a lower USD.

 -Most of the action was seen in the JPY, with USDJPY leading gains and pushing

the pair close to a 1 month high. 

-This was mainly driven by US Yields, as Treasuries traded lower, pushing US

Yield back towards a 1 month high. 

-USD has underperformed against all G10, beside the JPY, as noted. -EM FX and

CEE, have also benefited from the better USD selling today. 

-Fed Powell testifies at the Senate Banking, and took questions regarding Muni

facility Thresholds possibly being too high? 

-Said they've expanded access, have 50,000 entities eligible to borrow, we need

to have some lines. Says looking at ways to accommodate more borrowers under the

program.