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Markets get a jolt as Trump said to delay.....>

FOREX
FOREX: Markets get a jolt as Trump said to delay autos tariffs
-Investor sentiment clearly remains fragile, with headline risk abound as equity
markets jumped on reports that Trump is to delay the imposition of automobile
import tariffs by as much as six months, helping give core European equities,
the EUR and MXN (among others) a decent boost. EUR/USD rallied back above $1.12
on the news, with USD/JPY temporarily reclaiming Y109.50. Asset prices clearly
remain wary, however, with much of the move retraced in quick fashion.
-Commodity-tied currencies are the best performers Wednesday on the back of a
decent commodity rally. News that the US are to pull embassy staff from Iran
helped boost the oil price, dragging CAD and NOK with it.
-GBP sat at the bottom of the pile in G10, with the uphill battle faced by PM
May looking no easier after Labour stuck to stringent demands in order to pave
the way for her Brexit deal due to face lawmakers in the week from June 3rd.
-Attention turns to US housing starts & building permits data, weekly jobless
numbers and the Philly Fed release for May. Speeches are due from ECB's Praet,
Weidmann, de Guindos and Coeure, with Fed's Kashkari & Brainard also scheduled.

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