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G10 FX price action has been relatively.......>

FOREX
FOREX: G10 FX price action has been relatively muted so far. The release of a
wider than exp. Australian BoP current c/a surplus has failed to lend any
substantial support to the Aussie. The regional focus is on the upcoming
monetary policy decision from the RBA (see earlier bullets for our preview).
- NOK is the weakest G10 currency at typing, while CAD outperforms at the margin
after tumbling yesterday. All G10 crosses have respected tight ranges.
- USD/KRW trades higher, likely drawing support from concerns about the state of
U.S.-China trade talks. The pair gapped higher at the open but subsequent rally
has been capped by the 100-DMA at KRW1,187.74 so far.
- Today's data docket is thin, features EZ PPI and UK construction PMI. The
central bank speaker list includes ECB's de Cos & Coeure, as well as Riksbank's
Jansson. Hearings are scheduled from ECB Board nominees Panetta & Schnabel.

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