The DXY is off of worst levels but still a....>

FOREX: The DXY is off of worst levels but still a tad lower on the day as the

JPY outperforms on the earlier bout of risk aversion, although USDJPY has

rebounded to last trade around 106.00 from lows of 105.83.

- Yen demand was observed following comments from US policymakers Kudlow &

Navarro against Chinese trade practices, although USDJPY's initial support level

at 105.79 held after the rumoured pressure from macro sellers abated.

- The NZD has unwound its earlier GDP-inspired underperformance, after a slight

miss vs. exp., with analysts noting that the ever so slight miss will have

little effect on the RBNZ's monpol moving forwards. while the EUR & GBP have

posted modest gains against the greenback.

- The AUD continues to trade in resilient fashion, following AUDUSD's look above

0.7900 on Wednesday. AUDUSD last trades at 0.7880, while NZDAUD trades around

1.0750

- Key risk events on Thursday include the monetary policy decisions from both

the Norges Bank & SNB, with ECB speak from Nowotny & Lautenschlaeger set to hit.