Major crosses are back from extremes..........>

FOREX: Major crosses are back from extremes printed in a risk-off reaction to a

daily coronavirus update from China's Hubei, with the province reporting 14,840

new cases after revising the counting method. Worth noting that headlines with a

somewhat shocking number were ran before the clarification on methodology, which

may have augmented the early sell-off.

- JPY picked up a bid making USD/JPY heavy. The rate sank through Y110.00 &

seems to be consolidating there. High-beta FX took a hit, with yesterday's

outperformer NZD bringing up the rear. EUR/USD held near worst levels since '17.

- USD/Asia were mixed as participants weighed headlines from Hubei. With an

in-line PBoC fix having little impact on price action, USD/CNH threatened to

stage an attack at its 200-DMA, but pared gains thereafter.

- The FX space has shrugged off comments from RBA's Lowe, BoC's Poloz and RBNZ's

Orr, Hawkesby & Bascand, which revealed little new.

- U.S. CPI, final CPI from Germany & French unemployment headline today's thin

data docket. Central bank speakers include ECB's de Cos, Lane & Panetta, Fed's

Williams & Kaplan, as well as Norges Bank's Olsen.