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Further risk-on flows evident across the FX...>

FOREX
FOREX: Further risk-on flows evident across the FX space as BBG runs a headline
suggesting that "China is considering U.S. farm imports as goodwill before
talks." The full story cites unnamed sources as suggesting that China may permit
companies to resume buying U.S. agricultural products ahead of the next round of
bilateral trade talks. China's MOFCOM didn't respond to a request for comment,
per the BBG piece.
- JPY remains comfortably the worst G10 performer. USD/JPY knee-jerked to a
fresh session high of Y108.17 on the news, before ticking back to Y108.10.
- The Antipodeans have drawn fresh support from the BBG story. AUD/USD tested
but failed to breach yesterday's high of $0.6885, while NZD/USD peaked at
$0.6440. The kiwi outperforms among the G10 currencies, closely trailed by its
cousin from across the Tasman.
- Likewise, Chinese yuan picked a fresh bid and USD/CNH extended its earlier
losses, touching a new monthly low of CNH7.0765.

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