Little new on the wires so far and the G10....>

FOREX: Little new on the wires so far and the G10 currency board displays a

mixed picture. The kiwi leads gains, perhaps on the back of pre-RBNZ positioning

as the local card spending data was less than inspiring. JPY has held onto gains

registered on a round of purchases through the Tokyo fix. NOK helps bring up the

rear amid softer oil prices, while AUD has also been fragile.

- Sterling has showed some strength from the off in the absence of any fresh

headlines. There has been talk of participants squaring out short positions

entered after Moody's affirmed the UK's credit rating at Aa2, but changed its

outlook to negative from stable late doors on Friday.

- KRW has softened in a delayed reaction to the deterioration in sentiment

around U.S.-China trade relations. As a reminder, on Friday U.S. Pres Trump

downplayed earlier reports re: the roll-back of tariffs on China.

- The U.S. observes a partial mkt closure today (cash Tsys closed, stocks open).

- The focus turns to UK GDP, trade balance & industrial output. Italy will also

report its industrial production, while Norway will publish CPI data. Meanwhile,

Fed's Rosengren, as well as ECB's Enria and Mersch will speak.