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USD/JPY anchored to Y110.00 in quiet..........>

FOREX
FOREX: USD/JPY anchored to Y110.00 in quiet session so far
- It's been a generally quiet session so far Thursday, with most major pairs
respecting recent ranges and keeping a lid on realised volatility. USD/JPY has
had trouble making progress above the Y110.00 so far today, with mixed European
equity markets doing little to provide any boost to risk appetite. Nonetheless,
JPY is the weakest in G10 so far. AUD and NZD trade well, building on the gains
seen around the European close Wednesday but AUD/USD has found trouble breaking
above the 38.2% retracement of the early January decline. The level sits at
$0.6919.
- Some focus is being paid to EM currencies, with both Turkish and South African
central bank decisions on the docket. Turkey are seen trimming rates further
(median forecast is for a 75bps cut) while South Africa are seen keeping policy
unchanged (although there are outside bets for easing today).
- Focus turns to a decent slate of US numbers with retail sales, import/export
price indices, weekly jobless claims and Philly Fed data all due. The ECB
President Lagarde is speaking at 1800GMT/1300ET.

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