USD strength has continued. - NZD has been....>

FOREX: USD strength has continued.

- NZD has been pressured by softer than expected NZ retail sales data, with

NZDUSD 15 pips softer at 0.6895, with support not noted until the YtD low of

0.6849. AUDNZD cross flows & positive rhetoric between China & the US re: trade

matters have supported the AUD, with AUDNZD ~30 pips better off at 1.0895 &

AUDUSD unchanged at ~0.7515.

- Elsewhere the EUR has underperformed, with EURUSD 25 pips softer, sub-1.1750,

as Italy's populist parties (5-Star & The League) edge closer to governing.

EURUSD has punched a fresh YtD low of 1.1744, although follow through has been

limited, the next level of support comes in at December 2017's low (1.1716)

- GBPUSD has also eased, to trade at 1.3455, with the YtD low of 1.3449

providing immediate support.

- USDJPY has had a look back above 111.00, but hasn't breached Friday's high of

111.08. Resistance comes in the form of the Jan 22 high (111.22), followed by

the Jan 18 high (111.49).