Very limited session for the FX space thus....>

FOREX: Very limited session for the FX space thus far, with anaemic headline

flow noted. Little broader reaction noted to BBG headlines from the U.S. Soybean

Export Council, which noted that China has lodged 1.5-2.0mn tons of soy orders,

notably higher than previous reports.

- NZD the marginal underperformer on the back of the NZ Tsy's HYEFU, which

provided a 2018-19 GDP growth forecast of 2.9%, against budget estimates of

3.8%. The update also provided narrower budget surplus estimates for both

2018-19 & 2019-20.

- USD/JPY had added 15 or so pips as regional equities & U.S. index stock

futures tick higher.

- GBP/USD consolidating above $1.2600 in light of UK PM May's victory in the

Tory party leadership contest.