Yen top of the pack as market watches.........>

FOREX: Yen top of the pack as market watches politics from the sidelines

-After a night of volatility triggered by Gary Cohn's departure, Europe and US

sessions were far quieter with most major pairs flirting with unchanged. The JPY

remains higher against the rest of G10 as markets remain nervy, but it's more a

case of other currencies dropping, rather than investors rushing to buy the JPY.

-Commodity currencies have had a tough day with metals, oil and agricultural

commodities falling pretty sharply, resulting in CAD, AUD, NOK and NZD competing

for G10's bottom spot this afternoon.

-Bank of Canada kept rates unchanged, alongside expectations, having little

effect on the currency which has followed commodities lower. USD/CAD, again,

failed to break above the C$1.30 level but the market still seems keen to see

the Loonie weaker.

-GBP is faring well on little news, although the gap between an EU-acceptable

and UK-acceptable transition deal still seems far off.

-Tomorrow's focus turns to the ECB rate decision, with all eyes turning to

whether GC will tweak language.