Quiet Asia-Pac Session, Focus On Familiar Risks

Relatively thin headline flow kept G10 crosses within familiar ranges. USD and JPY firmed up a tad amid continued tensions between the U.S. and China, with the NYT reporting that the White House considers banning cotton imports from Xinjiang after NY hours saw the POTUS indicate his willingness to move forwards with economic decoupling from China. CHF failed to follow the lead of its safe haven peers and lost ground.

• AUD outperformed in the G10 basket, which could have been linked to demand for AUD/NZD ahead of today's chunky option expiry at a strike price of NZ$1.0860. The rate operated within the NZ$1.0862-85 range overnight.
• GBP remained limited by heightened concerns about a potential no-deal Brexit, after extensive press coverage pointed to a persistent deadlock in negotiations between London and Brussels.
• USD/CNH ticked higher with focus likely on China's tensions with its foreign partners, as the PBoC fix was only marginally weaker than estimated and hence did not provide much impetus.
• Today's data highlights include final EZ GDP & employment, German trade balance and Norwegian GDP.