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The re-open provided a relatively sedate......>

FOREX
FOREX: The re-open provided a relatively sedate start to FX trade this week,
outside of some early low liquidity swings in GBP/USD. Weekend news reports
point to discontent re: PM May's Brexit plan from the "hard Brexiteers" within
the Conservative Party, with the PM's efforts to forge developments via
addressing EU member states individually rebuffed on the continent. GBP/USD last
trades at $1.3105, virtually unchanged. Elsewhere, the JPY crosses headed higher
around the Tokyo fix on the final Gotobi day of the month.
- The yuan was once again the most notable mover, as USD/CNH registered a high
just shy of CNH6.8500, failing to break the figure to mount a test of Friday's
high (CNH6.8569). The move was aided by press reports pointing to capital
outflow pressures on the currency, and speculation mounting re: the possibility
of further RRR cuts (as voiced in today's Securities Journal commentary) & also
hampered the AUD.
- CAD struggled despite positive headlines from White House advisor Hassett over
the weekend re: NAFTA.
- German CPI headlines on Monday.
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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