The USD ground higher overnight, with the.....>

FOREX: The USD ground higher overnight, with the JPY & AUD losing out. The key

risk event over the next 24hrs will be the release of the minutes from the

latest FOMC decision. 

- USDJPY continued its move away from the recent lows at circa 105.50 as Asian

equities rebounded, but the Nikkei 225 took a hit in afternoon dealing which saw

the cross retreat from session highs to last sit at 107.65.

- GBP was range bound ahead of today's labour market report with TD Securities

of the belief that "underlying wage details could be more upbeat, supporting our

call for a BoE hike in May." GBPUSD last trades around 1.3985.

- The EUR was also contained as we await the latest batch of flash PMIs on

Wednesday, EURUSD last trades at 1.2333 with EURGBP at .8820.

- The AUD initially bounced following a modest beat in the latest wage data,

before retracing as the print isn't expected to impact the RBA's mon pol. The

move was also aided by a Q4 completed construction work print that missed est.

- NZD traded in a relatively contained manner as it awaited local data releases

due later in the week.