Sterling has outperformed its G10 peers,......>

FOREX: Sterling has outperformed its G10 peers, albeit by modest margins, ahead

of PM May's Brexit statement to the House of Commons, scheduled for later today.

Worth noting that the Sun reported that PM May is planning to hand in her

resignation this summer. 

- The Antipodeans have been relatively weak, with kiwi leading losses among the

G10 currencies. AUD/USD spiked ~15 pips higher after the release of softer than

exp. AU housing finance data & slightly firmer biz. conditions/confidence, but

quickly retraced the move, as the impact of the former print came to the fore. 

- The yen initially struggled, pressured by outperforming equities, with the

Nikkei 225 last trading ~1.5% higher. This was before the BoJ's decision to trim

the size of its 10-25 Year Rinban operations lent support to JPY, with USD/JPY

back to unchanged levels at writing. 

- Worth noting major currency pairs have stuck to rather tight ranges. 

- Today's economic docket is data-light, but speech-heavy, with ECB's Lane,

Weidmann, Nowotny (& Lautenschlaeger in the NY/Asia crossover), BoE Gov Carney,

as well as Fed's Powell, George & Mester all due to make addresses.