Most G10 crosses have traded in very tight....>

FOREX: Most G10 crosses have traded in very tight ranges so far, while NZD has

emerged as the clear underperformer. The kiwi has softened in reaction to the

latest BusinessNZ manufacturing PMI, which indicated the first contraction in

the sector since 2012.

- Elsewhere in New Zealand, RBNZ Gov Orr said that the Bank's policymaking is

"deliberately forward-looking." Orr was responding to an accusation from

BusinessNZ's Kirk Hope that "last week's OCR cut [...] did not seem to relate to

current inflation or unemployment data."

- JPY has gained some traction as the Nikkei 225 has moved ~0.4% lower and amid

flaring geopolitical tensions across the globe..

- KRW opened lower after North Korea test-launched projectiles off its coast and

declared that it will never speak to South Korean officials again.

- U.S. Pres Trump appeared on campaign rallies, reiterating his familiar views

re: plethora of imminent(?) deals & U.S. advantage in trade war with China.

- U.S. U. of Mich. Sentiment and housing starts, as well as EZ trade balance

take focus from here. Norges Bank Dep Gov Matsen is set to speak.