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G10 FX price action paints a mixed picture....>

FOREX
FOREX: G10 FX price action paints a mixed picture as we are heading for the
London session. U.S. Pres Trump's sabre-rattling towards China provided the only
real point of note in terms of fresh news flow. Liquidity was limited as South
Korea and Hong Kong were closed, while many participants in Japan took the two
days between public holidays off. USD showed some strength into the last Tokyo
fix of the month, but failed to hold gains.
- USD/CNH popped to a session high as China's official m'fing PMI marginally
missed forecasts but a stronger than expected PBoC fix pushed the rate into
negative territory. The yuan was unfazed as Caixin m'fing PMI slipped into
contraction, defying expectations of a modest improvement.
- Firmer risk appetite bolstered EM FX. IDR staged an impressive rally, with
USD/IDR tumbling past the IDR15,000 mark for the first time since mid-March.
USD/TWD broke through a key support and slipped to worst levels in two years.
- The ECB delivers its monetary policy decision later today. U.S. jobless claims
& Chicago PMI, Canadian GDP, flash GDP & CPI figures for France, Italy and the
EZ, as well as German & Norwegian jobs data are also due.

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