U.S.-China matters remained on the radar as...>

FOREX: U.S.-China matters remained on the radar as the regional docket failed to

provide fresh drivers. Beijing extended an olive branch by pledging to crack

down on IP theft, one of the key sticking points in trade talks with Washington.

Participants paid less attention to a RTRS report suggesting that a "phase two"

pact is nowhere near. They bought high-beta currencies and shied away from safe

havens. JPY cemented its underperformance on the back of a round of sales into

the Tokyo fix, with one source highlighting USD/JPY demand from Tokyo names.

- GBP firmed up as the latest opinion polls still give the Conservatives a

comfortable lead, while PM Johnson unveiled the Tory party's election manifesto,

advertised as a mix of fiscal responsibility & improved public services.

- Re: FX flows of note, Swiss drugmaker Novartis is buying U.S. biotech firm The

Medicines Co. for $9.7bn, while LVMH is reportedly nearing the purchase of U.S.

jewelry chain Tiffany & Co.

- THB was stable, even as BoT Gov Veerathai lamented the current baht strength.

- German Ifo survey takes focus today, data-wise. Central bank speaker list is

dominated by ECB members, including Villeroy, Holzmann, Lane, Mersch and de Cos.