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JPY crosses spiked lower in a.................>

FOREX
FOREX: JPY crosses spiked lower in a holiday-thinned trade, seemingly on no news
or data catalysts. USD/JPY dipped through a technical bear trigger at Y106.65,
which represents the low of Jul 10. Markets are on the lookout for a potential
announcement of a retaliatory closure of a U.S. consulate in China/HK/Macau.
- Demand for JPY applied pressure for the greenback, which landed at the bottom
of the G10 score board. The DXY is yet to test yesterday's YtD low.
- Sterling has traded on a softer footing from the off, as the latest round of
the UK's trade talks with the EU failed to bring any breakthrough, with the
year-end deadline of the transition period looming.
- AUD & NOK have fared relatively well thus far, even as oil holds steady.
- Focus moves to preliminary trade data out of Australia, UK retail sales, U.S.
new home sales and flash PMI readings from the U.S., UK & EZ.
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