The Aussie picked up a bid as the RBA.........>

FOREX: The Aussie picked up a bid as the RBA delivered their monetary policy

decision. While leaving the cash rate unchanged, Governor Lowe noted that some

of the global risks have lessened recently and highlighted lags in the

transmission of earlier decisions. AUD strength spilled over into NZD, which

allowed NZD/USD to print a fresh multi-month high.

- Safe haven currencies fared badly as regional equity benchmarks lifted from

worst levels, despite being limited by concerns about U.S. trade relations with

China and other trading partners. The yen landed at the bottom of the G10 pile

after a failed break under Y109.00 from USD/JPY. Headlines re: domestic fiscal

matters continued to draw attention in Japan, but the impact on JPY was muted.

- Global trade concerns propped up USD/KRW, which gapped at the open and staged

an attack at the 100-DMA, but failed to break above and receded somewhat. Final

South Korean Q3 GDP matched forecasts and stayed unch. vs. the flash estimate.

- Today's data docket is thin, features EZ PPI and UK construction PMI. The

central bank speaker list includes ECB's de Cos & Coeure, as well as Riksbank's

Jansson. Hearings are scheduled from ECB Board nominees Panetta & Schnabel.