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Risk off flows prevail - Risk off flows.......>

FOREX
FOREX: Risk off flows prevail
- Risk off flows dominated in Monday's Asia-Pacific session, with JPY demand
(particularly via the EURJPY cross) underpinning the broader theme as the
US-China trade issue dominated traders' thoughts, although liquidity was
diminished with China & HK out on holiday.
- Elsewhere, USD was stronger vs. the majors although CAD managed to shake off
the OPEC+ production inspired pressure from crude, and AUD/USD managed to move
back into unchanged territory after printing within 15 pips of YtD lows.
- NZD was the underperformer, owing to its sensitivity to Chinese trade and with
NZ Q1 GDP data due later this week.
- DXY needs to close above 95.131 to confirm another major uptrend.
- Risk events on Monday include addresses from Fed's Dudley, Williams & Bostic,
ECB's Draghi & BoC's Patterson.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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