FOREX SUMMARY: USD has been underperforming...>

FOREX: FOREX SUMMARY: USD has been underperforming against most majors today,

following the Risk on trend throughout the European session. 

-Cash S&P opened inside the 21 feb-24 feb gap (3259.81 to 3328.45), now at

3273.36. 

-USDZAR is through July low 16.5089, and made an attempt at the initial downside

extension noted at 16.4343 (traded 16.4578 low). 

-BRL was the best performing currency against the Dollar, with the Brazilian

Real gaining 2% so far this afternoon. 

-Risk tied AUD traded through key resistance at 0.7063, and above 0.7100, but

failed just short of 0.7119 projection of the Mar19-31 rally from Apr 3 low, to

print a 0.7109 high. 

-The rally in Oil, and WTI trading above $42, kept NOK, CAD and RUB. 

-NOK is the 2nd best performing currency in G10 against the USD, up 1%.

-CEE FX have held onto their bids, following the EU recovery fund agreement,

which sees CEE FX benefiting the most from the emergency fund. 

-CZK is up 1%, PLN 0.67% and HUF 0.63% against the dollar.