A meeting between U.S. and Mexican............>

FOREX: A meeting between U.S. and Mexican negotiators wrapped up without a deal

re: trade & immigration, spurring some early demand for the yen. Comments from

U.S. President Trump brought a degree of relief, as he pointed to progress in

bilateral talks (albeit not enough) & confirmed that talks would resume on

Thursday. JPY gyrated thereafter, but eventually topped the G10 pile.

- NZD remained buoyant after NZ 10-month budget surplus proved larger than exp.

- MXN took a double whammy of the aforementioned trade matters & negative news

on the ratings front. Fitch downgraded Mexico to Bbb (outlook stable), while

Moody's affirmed Mexico at A3, but downgraded its outlook to negative from

stable. USD/MXN neared its YtD high, before trimming gains.

- AUD ignored the latest Australian trade data, which saw trade surplus slightly

miss expectations, but still print just shy of the record highs.

- Focus today turns to U.S. trade balance, German factory orders, EZ GDP & the

ECB MonPol decision. BoJ Kuroda, BoE Gov Carney, ECB Pres Draghi and Fed's

Kaplan & Williams are due to speak. South Korea is shut for a holiday today,

while China & Hong Kong will be off tomorrow.