USD/JPY strikes highest in three months.......>

FOREX: USD/JPY strikes highest in three months

-Confirmation from the US President that he expects to sign 'phase one' of the

US-China trade deal at the mid-November APEC Summit helped support risk appetite

across both foreign exchange and equity markets Monday. The sentiment was

evidenced in a decent rally for USD/JPY, which cracked through a bull trigger

just below the Y109 handle to make a decent test on the 200-dma at Y109.06 that

becomes first resistance.

-Furtive risk appetite also helped stage a bounce in AUD/USD, which remains

inside the uptrend channel posted since cycle lows in early October. The 100-dma

at $0.6851 becomes the first target.

-With the UK House of Commons on the apparent cusp of granting a mid-December

General Election, GBP inched higher against most others as the most likely

outcome appears to be an election date that would limit the government's ability

to pass Brexit legislation this week.

-US consumer confidence numbers and pending home sales data are the calendar

highlights Tuesday. RBA's Lowe and ECB's de Cos both speak.