Markets eschew risk early Monday as...........>

FOREX: Markets eschew risk early Monday as equities struggle, boosting the JPY

-JPY's on the front foot early Monday, with European equity markets lower across

the board ahead of key central bank meetings and data points from the UK and US

this week. In Japan, opinion polls showing a drop in support for the PM Abe saw

USD/JPY touch Y105.68 before recovering modestly ahead of the NY crossover.

-Scandi currencies are the underperformers as lower crude prices drag the NOK

lower, with weak commodities also hurting the AUD and NZD.

-GBP, while trading broadly flat against the USD, has taken focus ahead of a

Brexit progress press conference at 1145GMT, with speculation rising that a

transition deal is imminent.

-The dollar trades mostly higher ahead of Wednesday's FOMC meeting, where a

25bps rate hike is largely priced in.

-Data calendar is particularly light for the rest of the session, but Eurozone

trade balance numbers at 1000GMT could draw focus given the tariff tensions with

the US.