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Risk-off flows have picked up but it's hard...>

FOREX
FOREX: Risk-off flows have picked up but it's hard to name any particular
catalysts behind them, albeit the coronavirus situation obviously remains front
and centre. Regional equity markets dropped, cued by yesterday's move in U.S.
counterparts. No real surprises in Chinese & South Korean case counts, although
the latter coincided with the latest round of risk-off. JPY tops the G10 pile
with NZD helping bring up the rear.
- Asian FX trade in a mixed manner. USD/KRW trades on a softer note after South
Korea reiterated readiness to intervene if it sees large, one-sided FX moves.
USD/IDR jumped higher, inviting an intervention from BI. 
- USD/ZAR had a brief look above ZAR15.50 for the first time since Sep 2018 with
South Africa's budget/ratings matters in focus.
- French & German flash inflation numbers, Canadian GDP and U.S. personal
income/spending take focus from here. Central bank speaker slate features ECB's
Weidmann, Fed's Bullard, as well as BoE's Haldane & Cunliffe.

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