CHF follows gold, hitting the year's best.....>

FOREX: CHF follows gold, hitting the year's best levels

-The Swiss Franc was one of the session's best performers, rallying against most

others as the currency tracked spot gold, which looks to close north of $1400

for the first time since 2013. Geopolitics and global central bank dovishness

remain largely responsible, with Trump signing an executive order to install

further sanctions against Iran. USD/CHF slipped south of 0.9750, hitting 0.9710,

the lowest level since late September last year.

-JPY failed to benefit from the moves in gold and CHF, however, despite USD/JPY

failing to materially break above the Y107.50 level, with bears still yet to

break firm resistance ahead of the Y107.00 handle.

-AUD continued to outperform throughout European and US hours, with bulls taking

confidence from the break of trendline resistance at 0.6967, opening the 50-dma

at $0.6975. 

-Kiwi trade balance, US consumer confidence and May new home sales are the only

real releases Tuesday, but speeches are due from RBA's Bullock, ECB's de Guindos

& Coeure and Fed's Powell, Williams, Bostic, Barkin and Bullard.