GBP & EUR reversed their strong European......>

FOREX: GBP & EUR reversed their strong European morning gains on Tuesday. Cable

touched fresh post-Brexit highs of $1.4377 but failed to consolidate after

headline UK wage growth came in 0.2% shy of consensus. The cross held 1.4335/40

at the NY crossover before getting another shove lower after the strong earnings

release from Goldman Sachs boosted US equity futures. Last trading at 1.4295.

- EURUSD had a look above 1.2400 but was quick to pare gains on the back of a

soft German ZEW survey. The pair eased to 1.2336, before dip buyers emerged to

push the cross higher again, last 1.2370.

- USDJPY stuck to a very tight range, shifting on the back of JPY cross flow,

last ~107.00. CHF was the G10 underperformer, EURCHF moved above 1.1900 for the

first time since the SNB removed its 1.20 floor in 2015.

- NZD continued to trade heavyily, losing ~50 pips from the highs to print a low

of 0.7327, with focus on Thursday's NZ CPI release. NZDUSD last at 0.7345.

- There is a lack of tier one events evident in Asian hours, with focus set to

fall on the upcoming BoC MonPol decision & UK CPI release. Elsewhere Fed voter

Dudley & Governor Quarles are due to speak on Wednesday.