Fresh risk-off flows have emerged after.......>

FOREX: Fresh risk-off flows have emerged after U.S. Pres Trump said that China

"broke the deal" and "will be paying," but retraced somewhat as he added that

"whatever happens with trade talks, it will all work out." JPY has topped the

G10 pile as a result. USD/JPY holds below Y110.00, with a source highlighting

Japanese banks on a bid in USD/JPY around session lows.

- The Antipodeans took a hit, with AUD landing at the bottom of the G10 currency

board. NZD has proved more resilient & lags only JPY. Worth noting the NY/Asia

crossover saw comments from RBNZ Gov Orr, who told NZ lawmakers that the

interest rate outlook is now "broadly balanced."

- CNH also softened in reaction to Trump's remarks. USD/CNH spiked into the

green and last deals ~30 pips higher. This occurs ahead of the release of

Chinese CPI and PPI, due at 0230BST.

- U.S. trade balance and PPI, as well as the Norges Bank MonPol decision take

focus today, after Chinese inflation data. Central bank rhetoric will be

provided by Riksbank's Jochnick, ECB's Hakkarainen, as well as Fed's Powell,

Bostic & Evans.