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USD on the march as CNH volatility............>

FOREX
FOREX: USD on the march as CNH volatility indirectly drives the major pairs
lower.
*Greenback trades stronger against most others as China reportedly suspended the
use of the counter-cyclical tool to cap USD/CNH gains. As a result, USD/CNH
squeezed sharply higher and holds gains of close to 0.5% at the time of writing.
*JPY the only G10 currency up on the USD, after the BoJ announced a Y10bln trim
(shadow tapering) to their YCC JGB purchases. USD/JPY has recovered from Y112.50
lows but is well off the Y113.18 highs of the session.
*USD strength has dented both EUR/USD and GBP/USD which sit circa 15 pips apiece
from session lows printed at $1.1932 and $1.3514 respectively.
*AUD/USD initially stronger on good Building Approvals but, as seasonal factors
were highlighted, the strength was short-lived and the pair fell further
alongside the general USD-positive theme.
*Eurozone unemployment rate data due at 1000GMT expected to fall to 8.7%,
Canadian Housing Starts and US JOLTS Job Openings are due at 1315GMT and 1500GMT
respectively.
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