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JPY outperformed overnight. Late headlines....>

FOREX
FOREX: JPY outperformed overnight. Late headlines on Thurs pointed to Pres.
Trump hinting to the WSJ that a trade fight with Japan "could be next," which
saw USD/JPY make a new session low, but on 2nd glance the article was less
inflammatory than the headline. Rate breached Thursday's low in early Asia
dealing, hitting Y110.38, last Y110.55.
- USD/CAD hit a low of C$1.3114 after President Trump stated that he believes
Canada will end up as part of the new NAFTA. This came after one newswire ran a
report that NAFTA talks are unlikely to reach a deal this week, citing an
unnamed CA Minister. Late comments from BOC's Wilkins on Thur, "BOC debated
dropping gradual approach to rate hikes," allowed USD/CAD to unwind earlier
gains. Rate last C$1.3130. AUD underperformed, as AUD/USD breached Thursday's
low, with bears focused on the YtD/May 24 2016 low ($0.7145). NZD ignored
comments from RBNZ Gov. Orr who stressed that the NZ "economic outlook is not
that bad." The NZD softened a touch after NZ's minister for broadcasting, Clare
Curran, resigned, owing to questions surrounding the use of her personal email.
- Focus Friday on U.S. NFP, Canadian labour mkt report, EZ Q2 GDP & Fedspeak.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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