Large EUR/JPY demand noted around the Tokyo...>

FOREX: Large EUR/JPY demand noted around the Tokyo fix sent the two sides of the

pair to the opposite ends of the G10 pile. The yen came under additional

pressure, as the Nikkei 225 posted gains (last trades 0.6% higher). Elsewhere,

Japanese Trade Min Motegi reiterated that U.S.-Japan trade talks will commence

next week (Apr 15-16), with the aim of "deciding on targeted goods categories."

- Scandies moved higher alongside EUR, but CHF slid with JPY amidst positive

risk sentiment. USD also struggled, landing well towards the bottom of the G10

pile. Worth mentioning Fed Chair Powell reportedly stressed the Bank's

independence in his off-the-record speech to the Democrats.

- The Antipodeans traded mixed, with NZD modestly pressured by soft domestic

BusinessNZ m'fing PMI & card spending data. Meanwhile, AUD struggled for clear

direction after the RBA's semi-annual Financial Stability Review noted that

Australian financial system is "resilient," despite greater downside risks.

- Focus today turns to U.S. U. of Mich. sentiment, Chinese trade balance & EZ

industrial output, as well as speeches from BoE Gov Carney, Riksbank Dep Gov

Floden, BoC Dep Gov Lane and ECB's Praet.