High-beta FX have received some support.......>

FOREX: High-beta FX have received some support after Chinese gov't's rhetoric &

updated official guidelines indicated Beijing's willingness to crack down on IP

theft in order to address one of the key sticking points in trade talks with the

U.S. At the same time, less attention has been paid to reports downplaying

potential for a "phase-two" trade pact. Safe havens are offered, with a source

highlighting a round of JPY sales vs. USD into the Tokyo fix. The aforementioned

sell-off has cemented the yen's position as the worst G10 performer.

- Sterling has fared well from the off as the latest round of opinion polls

continued to put the Conservatives comfortably in the lead. Further support has

come as PM Johnson unveiled the Tory party's election manifesto, which focuses

on fiscal responsibility and promises to keep the budget in surplus.

- Re: FX flows of note, Swiss drugmaker Novartis is buying U.S. biotech firm The

Medicines Co. for $9.7bn, while LVMH is reportedly nearing the purchase of U.S.

jewelry chain Tiffany & Co.

- German Ifo survey takes focus today, data-wise. Central bank speaker list is

dominated by ECB members, including Villeroy, Holzmann, Lane, Mersch and de Cos.