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The major FX pairs have stuck to extremely....>

FOREX
FOREX: The major FX pairs have stuck to extremely tight ranges thus far in
Asia-Pacific dealing as holidays in China, Hong Kong & Singapore have resulted
in reduced liquidity (there are also large scale closures across Europe on
Tuesday). News that US President Trump has postponed the steel tariff decision
for the EU & other allies did little for the space as the major stuck to 15 pip
ranges, with little in the way of catalysts to shunt them from their tight
ranges.
- NZDUSD trades at 0.7305, with talk of a barrier & the usual stops thereafter
at 0.7300, with a similar story given for the 0.7500 level in AUDUSD, last at
0.7540.
- Nearby option expiries & thinner liquidity could keep USDJPY in a tight range
today.
- The RBA MonPol decision presents the most notable risk event in the region on
Tuesday, with RBA Gov. Lowe set to speak in early London hours. Elsewhere UK
Manufacturing PMI data, US Manufacturing ISM Survey & Canadian GDP headline, as
well as an address from BoC Gov Poloz.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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