Relief likely temporary - After the...........>

FOREX: Relief likely temporary

- After the late-in-the-day rally in US equities Monday, European sentiment

seemed a little more soothed from the open, but this was short-lived, with a

number of core indices across France, Germany and the UK returning to negative

territory within an hour of the bell.

- Currencies looked suitably soothed, with JPY the poorest performer in G10 amid

further BoJ activity - the Bank purchased another Y122bln of ETFs the day after

the Bank doubled the upper limit of their ETF purchase target. USD/JPY trades

either side of the Y107 handle.

- Commodity-tied currencies remain downbeat, however, with AUD on the backfoot

following RBA minutes overnight. The minutes highlighted that the bank are

prepared to act further after they already trimmed rates at the most recent

meeting. AUD/USD sits at fresh multi-year lows just above $0.6050 at the NY

crossover.

- German ZEW data, US retail sales and industrial production for February are

the data highlights. ECB's Rehn is due to speak.