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The Antipodean FX remained slightly heavy,....>

FOREX
FOREX: The Antipodean FX remained slightly heavy, retaining fragility showed
this week as exp. were mounting for the RBA & RBNZ to ease policy further. No
particular headlines or data releases seemed to drive AUD and NZD overnight, but
a degree of pressure might have been applied by softer equity markets across the
Asia-Pac region, as well as global trade & geopolitical tensions.
- That being said, G10 crosses mostly traded sideways. GBP showed some marginal
weakness, but all in all price action of G10 FX was very subdued.
- USD/KRW gapped higher at the open & touched its best levels in over a month,
amid a decline in S. Korean consumer confidence coupled with N. Korea's latest
missile test. Persistent worries re: S. Korea-Japan spat didn't help KRW either.
- Tokyo CPI headlined today's thin Asia-Pac data docket, but the release
provoked no substantial reaction, with main measures providing little deviation
vs. the June readings on net.
- Remaining data highlights today include advance U.S. GDP, Swedish retail
sales, as well as French and Italian consumer sentiment gauges. ECB Survey of
Professional Forecasters is also due.

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