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Modest risk-on flows were noted around the....>

FOREX
FOREX: Modest risk-on flows were noted around the Tokyo equity open, as the
Nikkei 225 has pared the bulk of the losses, while China's MOFCOM said that
Chinese VP Liu, U.S. Tsy Sec Mnuchin and U.S. TR Lighthizer held a telephone
conversation. The yen has landed at the bottom of the G10 currency table, with
USD & CHF also struggling at typing.
- Muted reaction has been noted to the BoJ Apr MonPol meeting minutes.
- Strong trade data out of New Zealand has helped the kiwi outperform its G10
peers. Headline trade balance topped expectations, as did imports and exports,
with the latter rising to record levels.
- The U.S./Asia crossover saw some sterling weakness inspired by comments from
Boris Johnson. Despite admitting that some cooperation with the EU would be
necessary to avoid a hard Irish border & high trade tariffs, Johnson said that
he would get a no-deal Brexit through parliament if he wanted to.
- U.S. conf. board consumer confidence and new home sales take focus today. Also
of note are speeches from RBA's Bullock, ECB's de Guindons & Coeure, as well as
Fed's Powell, Williams, Bostic, Barkin and Bullard.

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