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JPY is back to neutral levels as U.S..........>

FOREX
FOREX: JPY is back to neutral levels as U.S. President Trump insisted that his
decision to impose tariffs on Mexico is "no bluff." This comes after the
currency found itself pressured from the off, in a carryover from yesterday's
underperformance inspired by comments from Fed Chair Powell, who said that the
Fed is "monitoring the implications" of trade war and "will act to sustain
expansion."
- It should be noted that G10 crosses have stuck to very tight ranges thus far.
- MXN took a hit from Trump's tariff comments, but USD/MXN trades nowhere near
its recent highs.
- USD/KRW dropped to yesterday's worst levels at the open before halving losses.
- Australian GDP, U.S. ADP employment change, EZ retail sales, as well as global
services & composite PMI readings take focus today. RBA's Heath, BoE's Ramsden,
Norges Bank's Olsen, as well as Fed's Clarida, Bowman & Bostic will provide some
central bank rhetoric.

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