The Asia-Pac session saw G10 FX space.........>

FOREX: The Asia-Pac session saw G10 FX space consolidate yesterday's moves

driven by the de-escalation in U.S.-Iran tensions. Reaction to regional data

releases was muted, with AUD unfazed by a wider than expected Australian trade

surplus accompanied by a downward revision to the prior reading. Safe haven

currencies traded on a softer note, dented by an improvement in sentiment that

filtered through into regional equity markets.

- The soothing of geopolitical tensions put a bid into Asian EMFX. KRW led gains

in the space, bolstered by yesterday's rout in oil prices (even as crude ticked

higher overnight). USD/KRW gapped lower at the open and later probed the water

below KRW1,160.00, but failed to settle there and ticked away from worst levels.

- USD/yuan tracked the moves in USD/Asia and registered multi-month lows despite

a softer than exp. PBoC fix & weaker than forecast Chinese inflation data.

- German industrial output and trade balance, Canadian housing starts/building

permits, Norwegian monthly GDP & EZ unemployment take focus from here. Central

bank speaker list is densely packed with speeches from a number of Fed, BoE,

BoC, ECB & Riksbank members.