The greenback continued to trade on the.......>

FOREX: The greenback continued to trade on the back foot overnight, with spill

over from Thursday's session evident, as Asia reacted to the shift in Fed Funds

futures pricing, which indicates slight chances of NIRP in the U.S. during 2021.

- Risk sentiment was further buoyed by the potential for further easing from the

PBoC and confirmation that a phone call between top level Sino-U.S. trade

negotiators took place (BBG sources had flagged the potential for such a call to

take place, albeit next week, back on Thursday).

- AUD sits atop the G10 pile, focusing on the broader bounce in risk and chewing

through near-term resistance that had capped AUD/USD during Thursday's NY

session. JPY underperformed against the risk-on backdrop, as you would expect,

although USD/JPY upside was limited by the USD's weak performance elsewhere.

- USD/CNH eased to the lowest levels in a week.

- Friday will be a curious session, with UK and French markets closed for

business, while the U.S. will release what's expected to be the worst NFP report

on record. You would expect that to be largely discounted by markets, although

you never quite know what could happen on any given NFP Friday.