The USD was mixed at the NY crossover, but....>

FOREX: The USD was mixed at the NY crossover, but soon regained its poise.

USD/JPY reclaimed the Y111.00 handle, moving back into the ascending channel

with gains extending to ~Y111.25.

- As expected the ECB made no changes to its monetary policy stance. President

Draghi started on a more positive tone re: inflation, but this was quickly

reversed after the ECB noted it will hold rates until summer 2019. Markets

interpreted the press conference as mildly dovish. EUR/USD dipped back under

$1.1700, printing a low of $1.1638 in early Asia-Pacific dealing.

- GBP/USD was heavy and operates around lows in early Asia-Pacific dealing,

pressured by EU's Barnier rejecting the UK's white paper proposals on customs.

- The Antipodeans were the biggest losers in the G10, AUD/USD moved back under

$0.7400, with additional pressure via the AUD crosses.

- There has been little reaction in the FX space to headlines from a U.S. off'l

noting that Pres. Trump reserves the right to impose tariffs on the EU if there

isn't a longer term deal put into place.

- U.S. GDP headlines on Friday.