Buoyant equities/commodities supported........>

FOREX: Buoyant equities/commodities supported commodity FX for most of Monday's

session, but the AUD & NZD moved back from best levels late on as equities pared

most of their gains as a report hit revealing that the FBI has raided the office

of Pres. Trump's long-time lawyer Cohen & as Russia's UN envoy noted that Moscow

has warned the US that a military strike in Syria could lead to repercussions.

This allowed the JPY to recover, with USDJPY pressing to session lows ~106.60.

- The USD underperformed as the DXY moved below 90.00. Despite pushing back on

expectations of a near-term NAFTA deal, a conciliatory tone from new WH adviser

Kudlow quashed fears of an immediate trade crackdown between the US & China.

USDCAD went out around session lows, supported by comments from Kudlow, who

noted that there should be more North American FX co-ordination, while Mexico

appeared confident re: a NAFTA deal in principal "for May". USDCAD last trades

circa 1.27 after briefly breaching the figure to the downside.

- GBPUSD benefited from the broader USD weakness, while EUR gained as ECB's

Draghi said that policymakers expect to see continued growth in the Eurozone.

- Risk events in Asia are limited, with focus on an address from President Xi.