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NZD on top for second session -NZD's recent...>

FOREX
FOREX: NZD on top for second session
-NZD's recent strength extended further into the Thursday session, with the
currency rising against all others in G10. NZD/USD's rally extended to touch
$0.6856 as firm commodities continued to support the move originally catalysed
by the less-dovish-than-expected RBNZ. A close at current levels for AUD/NZD
would bne the lowest since early 2017.
-Risk appetite took a knock mid-session as Bloomberg reported that significant
distance remains between the US and China negotiating teams on trade reforms,
which helped drag USD/JPY further below Y111, which initially cracked on a
particularly poor US retail sales release, despite White House advisor Kudlow
dismissing the data as a 'glitch'. USD/JPY sank as low as Y110.50 before
recovering slightly.
-Votes in the UK House of Commons on the UK's withdrawal from EU came and went
with little effect, but the political instability continues to dent sentiment in
GBP, which touched a fresh monthly low against the USD.
-Attention turns to UK retail sales and US Uni. of Michigan sentiment data.

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