Modest risk-on flows through Asia............>

DOLLAR: Modest risk-on flows through Asia overnight saw JPY at the bottom of the

G10 pile, accentuated after the BoJ trimmed its CPI outlook for FY19 to 0.9%

from 1.4%. The dollar was also lower across the board with the DXY holding

around the base of its 96.27-34 range at the European crossover. The index holds

in its recent 96-97 range with a break either side needed for clearer direction.

Topside focus remains on a break of the 50-dma at 96.59, above here opens a run

at the 97 level (96.95 - Jan 2 high). Downside support at 96.09 from the

100-dma. Gold ticked higher to $1285.91 and currently sits around broken channel

top resistance/support. Brent & WTI traded narrow ranges and hold toward their

respective peaks at the European crossover. Another quiet US calendar today with

headlines expected to dictate price action.