Risk appetite has deteriorated as Japan.......>

FOREX: Risk appetite has deteriorated as Japan returned from a holiday with the

local equity benchmarks sliding from the off. The Brexit rollercoaster continues

to stir up uncertainty, after UK parliament rejected PM Johnson's proposal to

fast-track legislative works on his Brexit bill. This puts the UK on course for

another Brexit delay and, perhaps, a general election. The yen sits atop the G10

pile having started to gain poise at the Tokyo equity open.

- Sterling firmed up initially but has pared gains since. The move was likely

nothing more than a brief corrective pullback, following yesterday's sell-off.

- Slightly softer oil prices have weighed on NOK, but only to a marginal extent.

- Caution has limited the won, but USD/KRW still hovers around multi-month lows.

- The economic calendar is fairly thin today, with EZ consumer confidence coming

up, which leaves the focus on risk developments. Thailand is off for a holiday.