Sterling strong but fragile ahead of AG Cox...>

FOREX: Sterling strong but fragile ahead of AG Cox judgement

-For a second session, GBP is the top performer in G10, with last night's Brexit

breakthrough helping markets further price out the probability of a disruptive

'no deal' Brexit. GBP/USD holds above $1.32 ahead of the NY crossover, with

attention turning to the judgement of Geoffrey Cox, the UK's top legal adviser,

who is said to be agonising over whether he can give his seal of approval to the

provisional changes made to the legislation surrounding the so-called

'backstop'. Latest reports suggest senior Conservative lawmakers remain

'pessimistic' about whether the legal advice will be sufficient to nudge the

deal over the line.

-Elsewhere, Scandis continue to outperform following yesterday's robust

Norwegian inflation data and this morning's optimistic central bank survey, with

modest gains in equities helping keep a lid on both the JPY and the USD, which

sit close to the bottom of the G10 pile so far Tuesday.

-Attention turns to the key Brexit votes due at some point after 1900GMT and US

CPI for February, expected at 0.2% m/m and 1.6% y/y.