Risk appetite picked up overnight, applying...>

FOREX: Risk appetite picked up overnight, applying weight to safe haven FX. JPY

led losses among G10 currencies, with CHF and USD closely behind. A move higher

in U.S. Tsy yields might have shielded the greenback from suffering greater

losses, with BBG citing traders who pointed to JPY sales vs. USD at the Tokyo

fix, inspired by strong economic data released out of the U.S. on Friday denting

dovish FOMC bets.

- The kiwi outperformed its G10 peers, ignoring the fact that the latest NZIER

Consensus Forecasts saw a downward revision of NZ near-term growth outlook.

There was no immediate reaction in NZD crosses to an uptick in NZ services PMI.

- AUD was the G10 runner-up, even as Macquarie said they see the RBA trimming

its cash rate to 0.5% by the end of 2021.

- Today's economic docket is rather thin and includes U.S. Empire m'fing,

Italian general gov't debt, as well as speeches from BoC Dep Gov Schembri, ECB

Pres Draghi & the latter's ECB colleague de Cos.