Hawkish trade comments from U.S. TR......>

DOLLAR-YEN: Hawkish trade comments from U.S. TR Lighthizer and U.S. Tsy Sec

Mnuchin put a bid into JPY just ahead of the Asia open. The U.S. officials

accused China of reneging on previously agreed trade commitments and announced

that Friday will see an increase in tariffs on Chinese imports.

- USD/JPY has ticked away from its reaction low since and last deals at Y110.77,

virtually unch. on the day. Bears look to the 100-DMA at Y110.62, bulls eye the

lower Boll band (2%) & Apr 10 low at Y110.84. The Nikkei 225 futures are

pointing to a higher open as Japan emerges from more than a week long holidays.

- On Monday, the pair slid into the Tokyo fix after U.S. President Trump

threatened imposing new tariffs on China, but the initial losses were pared

thereafter, with recovery supported by an SCMP piece stating that Chinese VP Liu

may still travel to Washington for trade talks this week. Escalating trade war

allowed USD/JPY to finish 34 pips lower, with JPY being the best G10 performer.

- Japanese Nikkei m'fing PMI (f) hits later today. Minutes from the BoJ's March

MonPol meeting are due Wednesday, with Summary of Opinions from the latest

meeting due on Friday.