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Modest USD strength against the remaining.....>

FOREX: Modest USD strength against the remaining majors was apparent overnight,
during a session underscored by diminished liquidity as Hong Kong & South Korea
observed market holidays.
- There was little in the way of headline flow apparent. The only headline of
note has come from China's Vice Commerce Minister who suggested that China is
open to talks with the U.S. re: trade, dependent on the attitude of the U.S.,
although the remainder of his address maintained the broader themes of recent
policymaker rhetoric. He went on to note that "talks are hard to proceed with
gun to our head."
- The JPY crosses turned bid into the Tokyo fix, with traders citing Gotobi
demand & extra buying interest on the back of the Japanese holiday, Y113.00
ultimately capped USD/JPY.
- Tuesday's focus turns to speeches from BOJ's Kuroda, BoE's Vlieghe, as well as
ECB's Praet & Coeure.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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