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Markets during the European morning were......>

MNI (London)
FOREX: Markets during the European morning were generally subdued, settling into
normal pre US Employment Report action with moves mainly driven by position
adjustments ahead of the key data release. This followed some early Asian risk
on trading as traders reacted to the announcement that US President Trump is set
to meet with North Korean leader Kim. News prompted Jpy sales which saw Usd/Jpy
push up to Y106.94, though momentum faltered ahead of the Y107.00 level. Traders
linked sell interest into this level to a large option expiry for today's NY
cut, value $4.14bn. Rate settled back around Y106.70 through the balance of
Asian and European morning session. Eur/Usd marked an early Asia low at $1.2295
on the $/Y spike but settled around $1.2300 for the most part through Europe. US
NFP median seen at 205k, some adjusting outlook higher following strong ADP. AHP
median 0.2%mm, 2.8%yy.   
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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