The dollar sits soft across G10 at the.......>

DOLLAR: The dollar sits soft across G10 at the European crossover. JPY

registered modest gains amid the risk-averse Asia theme, but volumes remained

light with the holiday in Japan. USDJPY comfortably remains below Y105.50 with

the next key support area at Y105.00, ahead of the ytd low at Y104.87. EURJPY

probed Y118.00, while GBPJPY printed fresh multi-month lows of Y126.55.

- The DXY holds toward the base of its 97.47-55 range. Friday's candle was a

hammer which is a bullish reversal pattern. key downside support is at 97.34

from the 100-dma. Expect resistance on approach to the 98.00 level which holds

the 50% retracement level of 98.93-97.03.

- WTI & Brent consolidate in narrow range trade following Friday's sell-off amid

growing trade war rhetoric.

- Gold breached but failed to close above key resistance from the upper trend

channel on the monthly chart last week, this comes in today around $1507.1.

- Quiet on the US calendar today with main release from the Treasury budget

balance at 1800GMT. The US government budget deficit narrowed sharply to $8.5

billion in June 2019 compared to the budget gap of $74.9 billion in June 2018.