A more subdued session for FX, with focus.....>

FOREX: A more subdued session for FX, with focus squarely on Equities and risks.

-Equity bid provided a good push for EM and CEE FX in early trading. -But we are

now having the typical end of day flow going into the weekend. 

-Equities are giving back all or most of today gains after some index raised as

much as 9% on the day, now back at flat. 

-We saw HUGE moves in Gold, with the precious metal on course for the biggest

drop and to conclude the worst week since 2011. Meeting margin calls was one of

the reason mentioned by desk. 

-GBPUSD had a decent move lower, which was more a function of the USD bid, with

the Greenback extending gains

-EM are off their best levels, on the back of the Equity bid fading., and same

story and type of market colour has been seen in CEE. -

Looking ahead President Trump is due to have a presser at 19.00GMT/15.00ET,

where he is expected to announce a state of emergency.