-Most G10 FX traded inside recent ranges......>

FOREX: -Most G10 FX traded inside recent ranges with the exception of the USD,

which rallied as risk sentiment soured. EM FX outperformed somewhat,

particularly BRL and MXN which erased some recent weakness. The dead cat bounce

in commodities prices faltered, denting AUD, CAD and NOK, which sit well toward

the lower end of the G10 table Tuesday. Reports suggesting Trump could pull the

trigger on 25% tariffs for imported cars helped press trade-sensitive FX lower.

-EUR initially found some support on MNI ECB sources reports that suggested the

ECB could indicate their willingness to buy Italian bonds to avert a

budget-related financial crisis, but much of the EUR bounce was erased ahead of

the NY open.

-GBP is again the poorest performer in G10 and bears eye recent cycle lows of

$1.2696 ahead of the year's lowest print of $1.2662.

-The RBNZ Financial Stability report and US GDP are the highlights Wednesday,

but markets also eye the Bank of England stress test results and an appearance

from Fed's Powell at the Economic Club of New York.