It was a relatively subdued session for the...>

FOREX: It was a relatively subdued session for the space. There was pressure on

the JPY crosses after the Tokyo fix with some attributing the modest risk off

flows to a BBG report of China dispelling a U.S. vessel near the South China

Sea, however, our sources highlighted JPY hedging out of Tokyo as a factor

weighing on the JPY crosses. USD/JPY unch. at ~Y113.95 last.

- NZD/USD remains lower on the day, but trades back above $0.6600 after being

pressured by the soft NZIER quarterly business opinion survey in early dealing.

The rate failed to challenge support at the 19 September low ($0.6573). AUD/NZD

had a brief look above its 50-DMA (NZ$1.0946).

- AUD/USD stuck to a tight range ahead of the upcoming RBA MonPol decision. All

of those surveyed expect the Bank to leave the cash rate unchanged at 1.5%, so

focus will quickly shift to the rhetoric employed in the accompanying statement

where the RBA should maintain its glass half full approach.

- GBP was immune to the latest round of Brexit headlines.

- Focus Tuesday falls on the RBA rate decision and speeches from BoE's Haldane &

Haskel, as well as Fed's Powell, Quarles & Kaplan.