Most of the focus this morning was on the.....>

FOREX: Most of the focus this morning was on the UK Retail Sales, with some

market participants speculating that we could have a surprise Data beat given

that the release would include "Black Friday". 

-As such, GBP was bid, with Cable trading back above 1.3100 pre release, to

print a 1.3118 high-

-The BIG MISS in Retail sales though, saw the GBPUSD drops some 60 pips to trade

back below 1.3050.. Post data, shows 72% chance of a cut. Of course ALL EYES now

on 24th January for Flash PMI's these will tip the balance 

-Very little else to report within G10 currencies, with most pairs within

ranges. 

-In EM, USDZAR touches low of the day, despite the surprised cut and lower

inflation outlook yesterday. Market participants are taking some comfort from

the latest Eskom noting that the system is looking better today 

-Mexican Peso has gained more ground today, following "USMCA has now been

ratified.The final vote was 89-10 to ratify. #USMCA Mexico has already ratified

USMCA"