Status quo in currencies -A quiet European....>

FOREX: Status quo in currencies

-A quiet European morning followed a quieter Asia-Pacific session Monday, with

most major pairs respecting recent ranges with little newsflow to trigger much

momentum in either direction. Commodity-tied FX trades slightly weaker, with CAD

and AUD among the weakest in G10 as oil markets pull back further. Energy

markets continue to modestly correct after WTI and Brent crude hit multi-month

highs early last week.

-A strong showing for Japanese equities initially pressured the JPY across the

board, but a more modest performance in European indices saw USD/JPY pull back

below the Y112.00 mark ahead of the NY crossover.

-EUR/USD's grind higher sees the pair on track to close above the 50-dma. A

break above the Friday high at $1.1324 would open the 100-dma at $1.1349.

-TRY underperforms the broader EMFX space, with the Friday highs in USD/TRY

already under pressure. The mid-March highs of 5.8448 lie just above.

-Datapoints are few and far between Monday with Empire Manufacturing the

highlight. BoE's Haskel, ECB's Villeroy and Fed's Evans are all due to speak.