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USD continues to edge higher, commodity FX....>

FOREX
FOREX: USD continues to edge higher, commodity FX underperforms.
- USDJPY last trades 5 pips higher at 109.10, as it continues to operate in a
narrow range with Japan observing the Showa Day holiday. The cross has
registered a high of 109.18, with chatter of exporter offers scattered between
109.20-50, while there is talk of bids from 108.95. It is worth noting that
there is some $1.5bln worth of 109.00 option expires set to roll off at today's
10AM NY cut.
- GBPUSD trades virtually unchanged at 1.3780, back from lows of 1.3766. There
was plenty of GBP news flow as Home Sec Rudd stepped down from the cabinet &
reports point towards UK PM May tabling soft freedom of movement suggestions to
the EU. EURUSD stuck to a tight range.
- Commodity linked currencies have edged lower, with gold & oil trading around
session lows. AUDUSD is 20 pips lower at 0.7565, with NZDUSD 15 pips softer at
0.7070, while USDCAD trades 20 pips higher at 1.2850.
- Risk events on Monday include US PCE & Chicago PMI, German national & state
CPI & BoE's Haldane.
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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