FOREX: Markets were generally subdued.........>

FOREX: FOREX: Markets were generally subdued through the European morning as

traders awaited today's ECB Monetary Policy announcement, followed by ECB Draghi

press conference. However, the Usd  was trading with a firm feel, albeit within

relatively tight ranges, in the second half of the European morning session.

Mixed views noted on the ECB outcome, small tweaks to Staff forecasts(slightly

higher), some see key aspects of the forward language, including standing 'ready

to increase the APP in terms of size/duration', whilst others see this outlook

removed.  

 - CAD outperformed in Asia after a report suggested US President Trump planning

to offer Canada & Mexico a temporary exemption from new tariffs on steel and

aluminum imports, allowed USDCAD to move onto the C$1.28 handle, though rate was

back above C$1.29 ahead of NY on the mentioned Usd strength.

- USDJPY held a relatively tight range around Y106.00 through Asia and the

European morning, capped by short term resistance at Y106.26, with a Y106.00

strike option expiry for today's NY cut, $1.06bn, acting to keep it anchored

close by.