It has been a limited session for the major...>

FOREX: It has been a limited session for the major crosses. JPY garnered support

from much stronger than expected Jun wage data in early dealing, although the

stronger than exp. prints were fuelled by early summer bonus payments, which

could weigh on next month's readings. There was also some modest JPY demand

around the Tokyo fix, although the major JPY crosses now trade at near unchanged

levels.

- The AUD crosses have stuck to tight ranges ahead of today's RBA decision. The

RBA will leave the cash rate unch. when it issues its MonPol decision Tuesday.

Despite some downside risks for both inflation and growth, the Bank is likely to

maintain its glass-half full approach, with focus on further progress in

reducing unemployment and returning inflation to target.

- There has also been focus on the TRY, which experienced an uptick in early

dealing on the back of reports from the Turkish CNN broadcaster stating that a

"delegation of Turkish officials are to go to the U.S. in 2 days" after the

countries "reached pre-agreement on certain issues," citing diplomatic sources.

- Focus on Tuesday falls on the RBA MonPol decision & China FX reserves data.