GBP, AUD hit fresh cycle lows vs USD as.......>

FOREX: GBP, AUD hit fresh cycle lows vs USD as focus turns to Fed

-GBP and AUD were the poorest performers across G10 Monday, with both pairs

hitting fresh cycle lows of $1.2554 and $0.6850 respectively against the US

dollar. Newsflow and price action was generally thin for key FX pairs, but the

USD shrugged off any minor downtick suffered following a dismal Empire

Manufacturing reading to turn positive ahead of the close.

-EUR traded well for much of the session, bouncing off the June 6th low, but

Friday's ranges were largely respected. Newsflow was light, which generally

worked in favour of global equities and EMFX, with TRY and ZAR trading well and

notching up gains against most others. With no fewer than 13 central bank

decisions left before the end of the week, traders appeared to opt to sit on

their hands, keeping ranges muted.

-German ZEW survey, US housing starts/building permits and final Eurozone CPI

figures are due Tuesday. RBA minutes and NZ consumer confidence also cross and

the ECB policy forum continues in Sintra, Portugal.