The greenback has extended losses into the....>

FOREX: The greenback has extended losses into the Asia-Pacific session and

underperforms all of its G10 peers at writing. The currency remains fragile

after slumping yesterday as expectations of a rate cut at the next FOMC meeting

grew firmer in the wake of Fed Chair Powell's dovish congressional testimony.

- Elsewhere, safe haven JPY and CHF have gained traction, while their advances

against USD have accelerated after the Tokyo fix. A firmer Nikkei 225 has failed

to prevent the yen from leading gains among the G10.

- USD/KRW gapped lower at the open, in a belated reaction to Powell's speech,

which overshadowed downbeat South Korean exports data.

- On the global trade front, U.S. Tsy Sec Mnuchin reportedly urged U.S.

companies to seek Huawei exemptions, while the U.S. has launched a trade probe

into the French plan to tax tech giants.

- CPI data from the U.S., Sweden and EZ member states figure on today's economic

docket alongside speeches from several central bank members. Among others, Fed

Chair Powell will continue his testimony, BoE Gov Carney will speak after the

publication of the FSR and the ECB will release its Jun MonPol meeting minutes.