*Good morning/afternoon everyone!*

The biggest story this morning is that USD/JPY is trading above 107.00. The currency pair jumped 100 pips in the past 14 hours on the back of overnight gains in the Nikkei. Asian and European equities shrugged off yesterday’s slide in U.S. stocks and now Dow futures are pointing to a stronger open. The rally in USD/JPY has taken all of the yen crosses higher and 107.50 is now in sight. EUR/USD remains under pressure but received brief support form ECB Lane’s comment that the current euro level is no concern. Although this view is not new, the fact that it managed to drive EUR/USD up 20 pips in seconds suggest that the currency pair does not want to fall. GBP/USD is hovering just under 1.3900 ahead of the UK’s Spring Statement – we think the pair will breach this level and finally break to the upside but the statement remains an unclear risk and there are still conflicting Brexit headlines. Next to the Japanese Yen, the New Zealand dollar is the best performer while the Canadian dollar and Australian dollar trail behind. Bank of Canada Governor Poloz will be speaking at 10:15AM NY.

*The MAIN THEMES I see today are*

+USD
+NZD
+GBP
-CAD
+AUD
-JPY

*Trading Biases*

+USD, +NZD, +AUD, +CHF
-JPY, -CAD
mildly +EUR, +GBP

*Today’s Initial Trades*

Here’s the summary –

1. Sell CADCHF at .7374, Stop at .7402, Target .7346
2. Buy EURUSD at 1.2334, Stop at 1.2306, Target 1.2362
3. Buy AUDJPY at 84.38, Stop at 84.10, Target 84.66
4. Bought EURJPY at 132.30, Stop at 132, 02, Target 132.58

Close ALL open day trades by 10:20AM NY / 15:20 GMT