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USD underperformed overnight in a.............>

FOREX
FOREX: USD underperformed overnight in a carry-over from yesterday's FOMC MonPol
decision & accompanying rhetoric. As a reminder, the Fed stood pat on its policy
settings Weds, removed "further gradual increases" from its forward guidance and
signalled flexibility re: balance sheet normalization (albeit emphasizing that
the fed funds rate is its "primary means" of adjusting MonPol). 
- The Antipodeans outperformed modestly, with kiwi benefitting from S&P
affirming New Zealand at AA and lifting its outlook to positive from stable.
Meanwhile, Fitch affirmed New Zealand at AA; outlook stable. 
- JPY traded mixed, as it ignored the summary of opinions from the BoJ's Jan
MonPol meeting, which stressed the importance of easy policy amidst
materialising downside risks. 
- Reaction to the latest round of official Chinese PMI data was muted, with
USD/CNH failing to break below CNH6.7000. 
- Focus today turns to French CPI, Italian, EZ & Canadian GDP, remarks from
BoC's Wilkins, as well as ECB's Coeure, Mersch & Weidmann. The ongoing Sino-U.S.
trade talks will result in U.S. Pres Trump meeting with Chinese VP Liu.

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