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The broader high-beta FX space struggles......>

FOREX: The broader high-beta FX space struggles for any upside momentum; the
Antipodeans clearly underperform their G10 peers. Participants have shrugged a
slight beat in New Zealand's GDP as expansion cooled to the slowest pace in five
years, on an annual basis. The quarterly figure topped consensus forecast, but
met RBNZ projections. The kiwi's reaction was positive, but brief and very
contained, and the currency has returned to the bottom of the G10 pile since.
- USD/KRW has added 3.3 figs, heads towards its 50-DMA. BoK chief Lee noted that
the rate cut delivered yesterday by U.S. FOMC eases pressure on South Korean
central bank, while the most important factor for policymakers in Seoul remains
the U.S.-China trade war. His comments come after BoK's Shin said that the
central bank still has room to ease monetary policy if needed.
- Central bank decisions are front and centre today; policymakers from Japan,
the UK, Norway and Switzerland, as well as Taiwan, Indonesia and South Africa
will decide on MonPol settings. Australian labour market report will be closely
scrutinised, with UK retail sales due later in the day. Lautenschlaeger, Ceoure,
Rehn (all ECB) and Floden (Riksbank) figure on the speakers' list.

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