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Dollar down in the dumps despite Trump's......>

FOREX
FOREX: Dollar down in the dumps despite Trump's attempts to rebuff greenback's
slide.
-After a relief rally late yesterday, Asia took the initiative and sold the USD
throughout the overnight session, helping lift GBP/USD and EUR/USD back toward
multi-month highs.
-GBP is outperforming as GDP fared better than expected (0.5% Q/Q, 1.5% Y/Y),
EUR/GBP printed down at Gbp 0.8724 on the initial react.
-AUD trades well alongside better metals and energy prices - AUD/USD now sits
just shy of yesterday's multi-month highs ($0.8119).
-USD/JPY is recovering in early NY and trades just above Y109, but is still
nursing USD-induced losses amid disappointing CPI figures overnight.
-EUR trades quietly, but significant option interest at $1.2415-25(E2.0bn) will
continue to garner interest.
-Markets remain focused on Trump: he's being interviewed at 1100GMT before a
speech at 1300GMT. Any further chatter on the USD will be eyed despite various
officials attempting to clarify and refine Mnuchin's earlier comments.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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