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Sterling is heading towards the London........>

FOREX
FOREX: Sterling is heading towards the London session as the worst G10 performer
amid expectations that UK PM Johnson's new Brexit plan will receive a cold
reception from EU leaders. The Telegraph revealed the contents of the proposal,
which involves keeping Northern Ireland tied to the EU until 2025. The document
has already met criticism from Irish ministers, who deemed it unacceptable. PM
Johnson is set to formally submit his divorce plan to the EU later today.
- AUD gained amid talk of demand for the currency from local exporters, while
JPY slid vs. most of its G10 peers even as local equity benchmarks softened. 
- KRW was offered as North Korea test-launched projectiles, one of which landed
in Japan's exclusive economic zone. The missiles may have been submarine-based;
they were fired hours after Pyongyang pledged to restart talks with the U.S.
- Activity was somewhat limited by the ongoing week-long mkt closure in China.
Trade in Hong Kong reopened today, but India is shut for a national holiday.
- On today's calendar are U.S. ADP employment change, UK construction PMI and
comments from ECB's Villeroy, as well as Fed's Williams, Barkin and Harker.

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