FX Update: A generally firmer Dollar and Yen, and a souring in risk appetite, will greet U.S. market participants as they return to their desks from their long weekend. USD-JPY edged out a three-day low of 109.32, driven by Yen outperformance as forex markets week looking for safe havens. Europe and Asian stock markets came under pressure, and S&P 500 futures racked up a 0.8% loss in overnight trading, pointing to a hefty opening loss on Wall Street later. The cash version of the S&P 500 had closed on Friday with a 1.3% gain. A cacophony of warnings from the IMF and CEOs of major global corporations, gathered at Davos, about the global economic outlook have taking a toll on market spirits. GDP data out of China yesterday also showed 2018 growth to be the lowest annual growth since 1990. Oil prices are down nearly 2%, too, after reaching seven-week highs yesterday (in the WTI crude benchmark futures market). EUR-USD, meanwhile, settled above a 18-day low at 1.1346, but remained heavy overall. German ZEW investor confidence improved, but the details in the report were far from encouraging, with the expectations reading still far below the long term average while the assessment of the current situation once again dropped sharply. The pound jumped in the wake of above-forecast UK jobs data, with Cable rising from levels near 1.2890 to a high of 1.2920 before the capping out. Brexit uncertainty limited impetus for follow-through buying. The UK's parliament will vote on a modified version of Prime Minister May's Withdrawal Agreement next Tuesday, January 29.