The RBA's SoMP affirmed Gov Lowe's earlier....>

FOREX: The RBA's SoMP affirmed Gov Lowe's earlier statement that the risk to the

outlook for interest rates is now more balanced and trimmed its GDP growth exp.

across its forecast horizon (aggressively over the immediate term), marking its

consumption outlook lower at the same time, which sent AUD to the bottom of the

G10 pile. AUD weakness spilled over into NZD. 

- JPY has outperformed, aided by risk-off flows, with the Nikkei 225 last

trading ~1.4% lower. 

- FOMC dovish voter Bullard spoke overnight, stating that the Fed does not have

to raise rates, as it is unlikely to meet its inflation target any soon. 

- China remains closed for the last day of the Lunar New Year holidays. 

- Focus today turns to French & Italian industrial outputs, as well as Canadian

labour mkt data. Central bank rhetoric will be provided by Fed's Daly.