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Slow Start

FOREX

Market holidays in mainland China, Hong Kong and Taiwan and the absence of notable headline flow have translated into subdued volatility across the FX space. Major currency pairs have held tight ranges, with NOK edging out amid an uptick in crude oil prices.

  • Japan's government resumed jaw-boning related to current JPY levels, with FinMin Suzuki reiterating that stability in the FX market is "important".
  • The RBA is preparing to announce its monetary policy decision today, while the data docket includes U.S. trade balance & services PMIs from across the globe. Fed's Brainard, Daly & Williams will speak later in the day.

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