JPY outstrips the rest and GBP left behind....>

FOREX: JPY outstrips the rest and GBP left behind on political risk

-JPY benefited from a wave of buying in Asia following the BoJ's decision to

tweak their Rinban purchase program (trimming longer-end purchases) and a second

spurt ahead of the US close pressing USD/JPY back towards Y106.50.

-GBP suffered throughout the day as EU's Barnier, the Chief Brexit negotiator,

poured cold water on the UK government's plan for a tranquil transition period.

Fast money selling overpowered model buying, sending GBP/USD below the 50DMA and

towards the Feb9 low target of $1.3765.

-Month-end greenback buying seemed to peter out at around the NY open and the

Dollar Index stopped just shy of a material break of the 50DMA. The second half

of Powell's testimony tomorrow may not draw as much attention as yesterday's,

but any line of difficult questioning will be keenly eyed.

-SEK fell further, extending the losing streak against the EUR to touch fresh

seven year lows as markets continue to write down rate hike expectations.

-Focus turns to tomorrow's weekly jobs numbers, personal income/spending figures

and ISM manufacturing for February.