The major USD crosses stuck to ~20 pip........>

FOREX: The major USD crosses stuck to ~20 pip ranges overnight.

- Fed's George (non-voter/hawk) noted that further gradual rate hikes are

needed, although she is unsure how far & how fast the Fed should go.

- JPY crosses edged higher early on, with sources noting a German buyer as

USD/JPY moved > 113.00, although follow-through was lacking, with selling

pressure around the Tokyo fix. USD/JPY trades back at Y113.00 last.

- GBP fell sharply on Tuesday, with cable printing a low of $1.3070 in the build

up to the the Commons vote, as markets speculated that the UK gov't would lose &

be forced to pursue Customs Union membership in a 'no deal' Brexit scenario.

However, PM May avoided defeat (aided by threats of a fresh election), helping

GBP edge off lows, cable last $1.3105.

- AUD/NZD continues to track the differential between AU & NZ 2-Year swaps, with

the pair holding a touch lower on the back of yesterday's 7-Year high in the

RBNZ Sectoral CPI Model.

- UK inflation, Fed Chair Powell's 2nd testimony in as many days & final

Eurozone CPI draw attention on Wednesday.