Modest USD weakness crept into early..........>

FOREX: Modest USD weakness crept into early Asia-Pacific dealing as USDJPY

traded sub 109.00, with nothing in the way of headline catalysts. Some pointed

to Tuesday's decision from US President Trump re: the Iran nuclear deal, with

many expecting him to scrap the deal.

- Since the middle of the session AUD has been on the back foot following the

softer than expected Australian retail sales data, which led to broader USD

strength, as CAD underperformed with oil pulling back & USDJPY topped 109.00

again. NZD has dipped following a softer RBNZ inflation exp. survey, although

this week's RBNZ MonPol decision will garner more attention.

- EURUSD & GBPUSD have followed the broader USD tone. The latest round of Brexit

headlines note that UK PM May is set to delay her decision re: her preferred

choice of customs partnership with the EU, with the usual Tory party dissent

noted. Fed non-voter Kaplan was the latest to stress the symmetrical nature of

the Fed's inflation target, and reiterated that he is the 3 hikes in total for

2018 camp, advocating the need for the gradual removal of monetary

accommodation. Focus on Tuesday will fall on comments from Fed Chair Powell.