GBP outperformed overnight, as it held........>

FOREX: GBP outperformed overnight, as it held gains registered on the back of a

report by the Sun which stated that "the DUP have privately decided to back

Theresa May's Brexit deal next week when she toughens it up, in a major

breakthrough for No10," adding that "the DUP are now willing to accept a

backstop as long as it's specifically time limited" - an idea that EU chief

Brexit negotiator Barnier has consistently rejected. 

- JPY fell to the bottom of the G10 pile, weighed on by broader risk-on flows,

with the S&P 500 futures breaching yesterday's highs. Early Tokyo hours saw the

release of firmer than exp. Tokyo CPI, which accelerated to 1.1% in January,

still well shy of the BoJ's 2% target. 

- Commodity FX fared well on the back of the risk-on flows. The Antipodeans

shook off some of their initial weakness, which stemmed from worries re:

Sino-U.S. trade relations after mixed signals from high-ranking U.S. officials

Thursday. CAD garnered some strength on the back of firmer oil prices. 

- Today's econ docket is headlined by German IFO survey, while BoJ Gov Kuroda

will speak on a panel in Davos.