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G10 crosses have been range bound in early....>

FOREX
FOREX: G10 crosses have been range bound in early Asia-Pac trade today, with
investors still cautious amidst flaring U.S.-China trade tensions. In the
absence of fresh headlines re: the trajectory of the conflict, G10 FX space has
been quiet, even as major regional equity indices have dropped.
- USD marginally underperforms, while NZD narrowly leads gains among G10
currencies at typing.
- Chinese offshore yuan has extended its recent losing streak, with USD/CNH yet
again touching a fresh YTD high, before recovering somewhat.
- Little to no reaction has been noted to regional data releases. Japanese BoP
c/a balance & trade balance both missed forecasts, Australian ANZ Roy Morgan
weekly cons. conf. index declined, while NZ REINZ house sales also fell, albeit
slower than last month.
- Focus today turns to the German ZEW survey, UK labour market report, EZ
industrial output, as well as Swedish & German (f) CPI data. Central bank
rhetoric will be provided by ECB's Villeroy, Riksbank's Ingves, as well as Fed's
Williams, George and Daly.

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