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G10 FX space has witnessed some gentle........>

FOREX
FOREX: G10 FX space has witnessed some gentle risk-on flows into the Tokyo
equity open, but otherwise price action has been subdued. With Sino-U.S.
phase-one deal signed, participants turn focus to phase-two talks. Speaking with
Fox News, U.S. Vice President Pence suggested that they are already underway
which may have triggered a modest risk-on reaction. As a result, the Antipodeans
are the best G10 performers, but trading ranges remain rather tight.
- USD/CNH has softened, but still operates some ~200 pips above its recent cycle
low printed on Tuesday. The PBoC fix was roughly in line with estimates.
- On the data front, U.S. retail sales and German CPI take focus today. The
minutes from December monetary policy meeting of the ECB & comments from the
Bank's Pres Lagarde are due. In Turkey, the CBRT deliver their policy decision.

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