SEK surges as inflation edges higher..........>

FOREX: SEK surges as inflation edges higher

-Scandi FX has had another strong day, with SEK imitating the NOK moves

yesterday, surging higher as September CPI edged above expectations. EUR/SEK

made light work of support seen at the Oct5 and Oct9 lows and now eyes the

100-dma at Sek10.3737.

-Outside of the Scandis, markets have generally been taking profits after the

volatility of the US session Wednesday. As a result, GBP, JPY and USD are toward

the lower end of the G10 table so far today, while commodity-tied FX improves.

USD/JPY briefly slipped below the Y112 handle for the first time since

mid-September and is on track for a sixth session of losses.

-The USD index touches the lowest levels since Oct3 overnight as Asia-Pacific

markets sold the greenback and as well as US equity futures, which continue to

weaken ahead of the US open. Tech stocks remain weak, with Apple and Amazon both

lower pre-market by a further 2% apiece.

-Attention turns to US September CPI, expected to accelerate on the ex-food and

energy measure, weekly jobless numbers and a speech from Fed's George in Tulsa.