Greenback higher for a seventh session........>

FOREX: Greenback higher for a seventh session ahead of the Fed

-The USD index crept to a fresh multi-month high early Monday as markets clearly

remain cautious ahead of the pivotal FOMC rate decision Wednesday. The greenback

is now within striking distance of the 2019 (and multi-year) highs as traders

continue to clip back expectations of a 50bps cut from the Fed, although a move

of that size is still given a decent pricing of approx. 20% according to the

CME.

-JPY trades better and had a very strong start to the Asia-Pac session as Nikkei

newswires reported that Japan's colossal GPIF pension fund has begun hedging

exposure to foreign bonds priced in EUR and USD. USD/JPY bottomed out at Y108.42

before recovering slightly, with Y108.50 remaining a decent anchor for the pair.

-GBP is, once again, the poorest performer in G10, with markets eyeing the

step-up in preparations from the UK government for a disruptive No Deal Brexit.

GBP/USD continues to press to fresh multi-year lows, with markets now eyeing the

$1.23 handle.

-The calendar is sparse, with the next risk event Tuesday's BoJ decision.