It has been a quiet start to the..............>

FOREX: It has been a quiet start to the Asia-Pacific session, with the JPY

crosses remaining the major focal point as USDJPY staged a test of 110.00, the

level is expected to provide key resistance ahead of the 110.21 200-DMA. USDJPY

last at ~109.85.

- The remaining majors have stuck to tight ranges against the USD.

- Risk events of note in the Asia-Pacific session include the RBA MonPol

decision, Australia Q1 BoP Current A/c & Net Exports of GDP & China Caixin

services & composite PMIs. Later on Tuesday EZ, UK & US services PMIs will hit,

as well as EZ retail sales & ISM non-m'fing PMI as well as speeches from ECB's

Nowotny, Weidmann and BoE's Cunliffe.

- EURUSD provides the most interest with regards to today's 10AM NY options cut,

with the following nearby expiries of note $1.1675-80(E738mn), $1.1700(E704mn),

$1.1725(E1.05bn), $1.1750(E1.99bn).