USD/JPY dented as equities retreat -A.........>

FOREX: USD/JPY dented as equities retreat

-A negative close for Japanese equities was followed by further underperformance

in core European stock markets as well as US equity futures, helping support the

JPY and prompting a drop of (initially) 30 pips or so in USD/JPY. A somewhat

upbeat speech from BoJ's Kuroda also helped underpin the Japanese currency.

Price action elsewhere has been thin on the ground, with most majors respecting

their recent range.

-EMFX also trades lower with particular underperformance in the TRY as the

Turkish central bank restarted their liquidity provision via 1-week repo

auctions and as the country's President challenged recent local election

results. Erdogan stated that there were "widespread irregularities" in Istanbul

voting, setting the stage for a re-run of voting. USD/TRY rallied through 5.70

following the comments.

-The data calendar's relatively light Monday, with Canadian housing starts and

US factory orders the highlights. There are few speakers of note, with just

ECB's Villeroy on the docket at 1645BST.