It was a lacklustre session for the majors....>

FOREX: It was a lacklustre session for the majors as the USD edged higher.

- There was no SEK vol. on the back of the prelim. results from the Swedish

election. The left leaning bloc & the Alliance coalition drew a similar amount

of seats, with the right leaning SD party getting slightly fewer seats than exp.

There is no clear outcome here. The incumbent PM, Lofven, has said that he will

calmly work as PM over the next 2 weeks. The Riksdag reconvenes on Sep 24, when

a new speaker will be elected. The speaker will then talk to the party leaders &

present the chamber with a proposal re: the new PM. The speaker has 4 attempts

at doing so, a failure after the 4th attempt would trigger a snap election.

- Commodity linked FX came under pressure. A slightly softer growth outlook from

New Zealand's NZIER & a soft Q2 manufacturing print weighed on the NZD, allowing

NZD/USD to print a fresh cycle low, while AUD/NZD benefited from the move,

allowing AUD/USD to trade at unch. levels. USD/CAD edged higher as NAFTA

uncertainty continued to plague the loonie. The JPY garnered a modest/brief bid

on stronger than exp. Japanese GDP, but USD/JPY deals unch. last at Y111.00.

- UK GDP/output data & an address from Fed's Bostic headline today.