Sterling, again, lives up to its high beta....>

FOREX: Sterling, again, lives up to its high beta reputation

-After being the poorest performer Tuesday, GBP climbed to the top of the charts

Wednesday as markets further priced out the likelihood of a disruptive 'No Deal'

Brexit ahead of a vote in the Commons on the topic at 1900GMT.  The implied

likelihood of UK lawmakers voting to pursue a no deal strategy fell to as low as

2% at some point of the session, shifting focus to Thursday's vote on an Article

50 extension. GBP/USD made light work of resistance layered just above the $1.32

handle, with bulls turning focus back to the Tuesday highs at $1.3289.

-Elsewhere risk appetite, while evident in equities, was lacking in FX markets

as AUD, NZD and EUR underperformed from the off, but a sluggish greenback also

prevented any broader move Wednesday. USD/JPY stuck to a particularly tight

range, with the Wednesday candle failing to challenge Tuesday's highs/lows.

-Australian CPI expectations data, NZ manufacturing PMI, German final CPI,

weekly US jobless claims and Feb import/export price indices are due Thursday.

Speeches from ECB's Visco and BoC's Wilkins are also on the docket.