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CAD benefitted from late reports Tuesday......>

FOREX
FOREX: CAD benefitted from late reports Tuesday stating Canada is ready to
include the dairy industry in NAFTA negotiations, with generally warm comments
from Trump re: the prospect of a deal lending further support. This allowed
USD/CAD to register a low of C$1.3043, pulling back to C$1.3070 after Canadian
ForMin declined to say when she'll next meet with U.S. TR Lighthizer, although
she stressed that a NAFTA deal is still possible.
- Reports from BBC & ITV pointed to growing disdain towards PM May from the ERG
Eurosceptic arm of the Tory Party, although the BBC suggested that the group
wasn't planning an imminent leadership contest, while the Telegraph suggested
that May could face a leadership coup within "days." GBP/USD has been under
pressure from the get go in Asia trade, last trading a few pips above $1.3000.
- The Antipodeans remained under pressure. AUD/USD moved back below $0.71, but
hasn't registered a fresh cycle low at the time of writing, while NZD/USD failed
to break option related support at $0.6500. JPY outperformed overnight, taking
advantage of the softer tone in regional equities, USD/JPY last Y111.50.
- Fed's Brainard & Bullard headline on Weds, with Riksbank Gov. Ingves also due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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