JPY was the poorest performer in G10 on.......>

FOREX: JPY was the poorest performer in G10 on Thursday, falling against all

others, with USD/JPY closing above Y114.00. Japanese equities rallied sharply,

although European & U.S. markets were more inconsistent as traders largely sat

on the sidelines ahead of the FOMC decision.

- The FOMC left its MonPol settings unch with a 9-0 vote. The language around

business investment & unemployment was subject to some tweaks. This had little

impact on the DXY, which trades 1% or so off cycle highs.

- SEK was the strongest performer in European FX as Riksbank members turned

somewhat hawkish: Floden stated that the challenges to monetary policy have

diminished somewhat, raising exp. that the bank could hike rates as soon as Dec.

EUR/SEK broke firmly below the 200-DMA to touch the lowest levels since July.

- The latest bout of Brexit reports were played down by UK PM May's office, both

in EU hours and late Thursday.

- Focus Friday turns to UK trade balance, production & GDP numbers, U.S. PPI &

UoM sentiment, with the RBA set to release its SoMP. Fedspeak picks up Friday

with Williams, Harker & Quarles all due.