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G10 crosses respected tight ranges............>

FOREX
FOREX: G10 crosses respected tight ranges overnight, digesting the weekend news
flow. China's confirmation that parts of the "phase one" trade pact with the
U.S. are "basically completed" provided a bright spot. Sterling was range-bound
with mkts awaiting how the Brexit/potential snap elex situation unfolds today.
- NZD shed its initial strength, despite outperforming initially. AUD faced some
pressure after the APRA proposed looser capital requirements for a first home
buyers scheme. KRW led gains in Asian FX, supported by the trade news. THB took
a hit after the U.S. suspended Thailand's trade benefits.
- Argentina's central bank tightened FX controls after Alberto Fernandez
defeated the incumbent Mauricio Macri in a presidential race. The new monthly
cap on USD purchases by Argentine savers has been set at $200 vs. the previous
$10,000. Central bank chief will hold a presser at 08:30am local time.
- New Zealand, Singapore, India and Malaysia are off for holidays.
- The global data & event docket is thin today, includes U.S. wholesale
inventories, Swedish trade balance and comments from BoE's Tenreyro. Outgoing
ECB Pres Draghi will make a valedictory speech.

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