It has been a somewhat sedate start to the....>

FOREX: It has been a somewhat sedate start to the Asia-Pac session, with

headlines in the NY/Tokyo crossover few and far between. Light risk-on flows

were seen across the G10 FX space, but these have moderated since. USD and JPY

continued to underperform in the basket, while AUD & NOK lead gains at the

margin. NZD has shed earlier gains and struggles for any topside impetus, ahead

of tomorrow's monetary policy decision from the RBNZ.

- Onshore KRW reopened on a firmer footing, hitting a one-week high vs. USD. The

currency has drawn support from broader USD sales seen yesterday.

- Preliminary Australian retail sales, U.S. new home sales and global PMI data

take focus from here. Fed's Bullard, ECB's de Cos and BoE's Bailey will speak.