The Norwegian krone took a hit early on,......>

FOREX: The Norwegian krone took a hit early on, which allowed USD/NOK to take

out its Jun highs, but the currency has recouped most of the initial losses

since. No immediate drivers were noted in the way of headlines. Reports stating

that the U.S. will issue new Iran sanctions waivers pressured WTI, but only

marginally and with little to no impact on the broader commodity-tied FX space.

- A source has suggested that the move in NOK might have been driven by a stop

loss trigger in EUR/NOK at yesterday's high & an early sell-off in NOK/JPY.

- The loonie sits atop the G10 pile. Sterling showed some modest strength before

fading, but generally respects a familiar range.

- It goes without saying that the FOMC monetary policy decision is the main

point of note today. The Asia-Pac data docket is quite densely packed, with

China's official PMIs, Australian CPI & NZ ANZ biz. confidence coming up. Flash

CPIs from France and Italy, GDPs from Italy, EZ and Canada, as well as U.S. MNI

Chicago PMI are due later today.