The USD edged higher in Asia ahead of Fed.....>

FOREX: The USD edged higher in Asia ahead of Fed Chair Powell's second testimony

in front of congress.

- The USDJPY moved to session highs as BoJ dove Kataoka stuck to his playbook,

stressing the need for additional easing, while BoJ Gov. Kuroda & Japanese PM

Abe reiterated their commitment to ultra loose monpol.

- The AUD continued to tumble on soft CapEx data, despite upward revisions,

continuing its move lower after the AUDUSD broke its 200-DMA in NY hours, with

chatter of leveraged sellers adding to existing shorts overnight.

- The NZDUSD garnered support in front of its own 200-DMA moving average before

reclaiming 0.7200 as AUDNZD cross flows supported.

- GBP consolidated lower, following yesterday's Brexit inspired sell off. The

latest reports suggest that UK Brexit Min Davis has threatened not to pay the EU

divorce bill owing to the dispute over the hard Irish border.

- The EUR has its eyes fixed on political events over the coming weekend, with

large option expiries for EURUSD over the next 2 sessions.