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Early Asia-Pac trade has witnessed fresh......>

FOREX
FOREX: Early Asia-Pac trade has witnessed fresh risk-off flows after U.S.
President Trump tweeted that the U.S. will introduce 5% tariffs on Mexican
goods, effective on June 10. Subsequent statement from the White House noted
that the tariffs may increase to 25%, if Mexico fails to curb illegal
immigration to the U.S., further damaging risk appetite.
- High-beta currency bloc has struggled, with CAD leading losses among the G10,
as the aforementioned headlines prompted WTI to break below $56/barrel.
- JPY sits comfortably atop the G10 pile, with CHF coming as the runner-up, as
they have benefited from a flight to safety. Trade headlines have overshadowed a
batch of Japanese data releases earlier today.
- KRW has softened on the back of the broader risk-off feel, even as domestic
industrial output figures topped expectations.
- Mexican peso cratered in response to the U.S. tariffs announcement.
- Focus today turns to U.S. PCE & personal income/spending data, Italian &
German CPIs, Italian & Canadian GDPs, official Chinese PMI readings & the BoK
MonPol decision. ECB's Visco, as well as Fed's Williams & Bostic will speak.
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