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Dollar worst performer for second session.....>

FOREX
FOREX: Dollar worst performer for second session on Fed outlook
-Markets were happy to sell the dollar for a second session Thursday as
sell-side analysts rushed to change forecasts to incorporate a looming wave of
easing from the Fed as soon as July. This pressured the USD index to key support
at the 200-dma of 96.625, with a close below signalling a material deterioration
to the outlook.
-Buoyant safe haven currencies also worked against the greenback Thursday, with
the JPY gaining on the back of worsening relations between the US and Iran.
Trump issued a warning to Iran after the country shot down a US drone, but
stopped short of outlining retaliatory measures. USD/JPY slipped to multi-month
lows of Y104.87 in response.
-NOK was the best performer in G10 as the Norges Bank re-affirmed the stark
contrast between itself and other global central banks by continuing its
tightening cycle with a 25bps rate rise.
-Eurozone and US prelim PMIs, Japanese CPI, Canadian retail sales and speeches
from BoE's Tenreyro and Fed's Daly are due Friday.
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