Drab G10 price action in holiday-thinned......>

FOREX: Drab G10 price action in holiday-thinned trade

-Most major pairs trade well within Friday's range and largely little-changed

against their G10 counterparts. A bank holiday in the UK is keeping volume and

liquidity thin. Nonetheless, beyond DM FX, emerging markets are keeping traders

busy. The MXN drew the most attention in early dealing, advancing on weekend

reports pointing to the possibility of a bilateral deal between the U.S. &

Mexico in the early part of this week, which would then bring Canada to the

negotiating table, further supplemented by positive rhetoric from Mexican

policymakers & U.S. President Trump. This contrasts with the ZAR and TRY, which

are both suffering this morning on little new news, allowing USD/TRY to re-test

last week's highs.

-There was a modicum of overnight volatility, resulting in a swift fall in the

JPY crosses, with no headline catalyst and USD/JPY briefly traded sub-Y111.00.

The pair has regained the figure & trades back above the 50- & 55-DMAs.

-The calendar's very light today, with just tier 2 data from the US due: Chicago

Fed Nat. Activity Index and Dallas Fed Manufacturing numbers.