Risk appetite has struggled on the back of....>

FOREX: Risk appetite has struggled on the back of hawkish trade comments from

U.S. Tsy Sec Mnuchin & U.S. TR Lighthizer, as well as a soft opening for the

Nikkei 225 after more than a week long Japanese holidays. As a reminder, Mnuchin

& Lighthizer criticised China for reneging on its trade pledges and confirmed

that Washington is planning to impose fresh tariffs on Chinese goods, effective

on Friday. NZD has been the worst G10 performer, as a result.

- USD/JPY bottomed at Y110.59 in the wake of the aforementioned remarks re:

Sino-U.S. trade relations. The pair climbed to Y110.85, as initial impact waned,

but a move lower in the Nikkei 225 sent it back towards unch. levels.

- Risk-off tone has favoured CHF, which tops the G10 pile at writing, while NOK

is the second weakest G10 currency.

- The RBA is set to deliver its MonPol decision later today, while the Riksbank

will release its latest MonPol meeting minutes. Elsewhere, Australian retail

sales & trade data, NZ 2-year inflation expectations & German factory orders

will provide interest. Central bank speakers' list includes BoE's Cunliffe &

Haldane, Fed's Kaplan & Quarles, as well as Riksbank's Ingves.