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The USD continues to trade relatively flat....>

FOREX
FOREX: The USD continues to trade relatively flat in Asia, after a modest bout
of softness heading in to the Tokyo fix unwound the majority of the greenback's
early session gains.
- The NZD continues to underperform on the back of the soft January trade data,
but the Kiwi is off of worst levels.
- FOMC Chair Powell's testimony to congress will present the major risk event on
Tuesday, while German CPI, comments from the Bundesbank's Weidmann and US
Durable Goods data also provide event risk on Tuesday.
- Notable option expiries in play include EUR1.16bln worth of EURUSD 1.2350
expiries on Tuesday, with EUR1.56bln of the same strike set to roll off on
Wednesday. For the AUDUSD A$912mln worth of 0.7800 expiries & A$1.01bln of
0.7900 expires will roll off on Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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