EMFX breathed a sigh of relief on Friday,.....>

FOREX: EMFX breathed a sigh of relief on Friday, particularly the BRL, which

rose as much as 4% against the greenback as markets took solace in BCB's

commitment to its FX swap program. The stronger BRL dragged the ZAR, MXN and TRY

higher with it.

- Trump stole the headlines over the weekend refusing to sign the G7 communique

triggering a round of diplomatic jousting, with US policymakers focusing on what

they deemed to a "dishonest" Canadian PM Trudeau. CAD is taking a hit early on,

but is off worst levels vs. USD. Elsewhere Trump sounded upbeat as he arrived in

Singapore ahead of the NK summit, stating that he would know within 1 min if Kim

was being genuine. NK media stated that the summit will discuss a permanent,

firm peace regime & de-nuclearisation of the Korean peninsula.

- The weekend also saw Switzerland vote against the Vollgeld initiative.

- Fed, ECB & BoJ MonPol decisions come later this week, as does US, UK & EZ CPI

and Aussie labour market data. It's a big week for Brexit with the Commons set

to vote on the EU withdrawal bill & Brexit Sec Davis set to meet with EU's

Barnier.