Major overnight headlines:
• Spot gold rises as much as 2.0% overnight before dropping back, session high above $1,320/troy ounce
• JPY climbs after Abe fails to win [LDP] majority in Upper House elections, Bloomberg
• Swiss M3 money supply growth rises by a record 11.6% YoY in June
• China’s SAFE sees more “two-way” fluctuations in CNY exchange rate, not seeing “capital flight”, Thomson Reuters
Read the full report: FX Strategy
BMO