Safe haven currencies weakened, ignoring......>

FOREX: Safe haven currencies weakened, ignoring the fact that major Asia-Pac

equity indices operated in the red. The yen was the worst G10 performer, closely

trailed by CHF. USD/JPY purchases into the Tokyo fix allowed the rate to have a

look above Y108.00, a psychological figure and an option-related resistance,

while a source pointed to EUR/JPY buying in the Tokyo morning.

- NZD topped the G10 pile with no catalyst in the way of headlines apparent. A

Xinhua story from over the weekend, stating that some Chinese firms intend to

buy U.S. agricultural products, may have aided NZD at the cost of safe havens.

- GBP showed some early strength after the Times reported that a few EU

countries have contacted Boris Johnson's aides hoping for cooperation to avoid

what they see as a catastrophic no-deal Brexit.

- USD/KRW faded somewhat after rejecting the 50-DMA, but still trades ~2 figures

better off. South Korea's trade figures for the first 20 days of July were quite

grim; exports dropped 13.6% Y/Y, with chip exports falling 30.2% Y/Y.

- It is a very quiet start to the week, the only points of note today being

Canadian wholesale trade sales & comments from BoJ Gov Kuroda.