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***On Thursday US Pres Trump noted that he....>

FOREX
FOREX: ***On Thursday US Pres Trump noted that he would apply the much-awaited
steel & aluminium tariffs although Canada & Mexico have received an indefinite
exemption (contingent on NAFTA progress) which saw CAD & MXN higher.
- EUR pairs initially rallied as the ECB withdrew the explicit pledge to
increase the size of QE in their policy statement. Nonetheless, the gains were
wholly reversed after Draghi clarified the move was retroactive, and holds no
implications for the policy outlook. EUR/USD shed close to 150 pips on the way
to session lows around $1.23.
- CHF traded weaker across the board, EURCHF has broken above the 50- and
100-DMAs is now eyeing post-peg break highs of 1.1833.
- GBP took a hit after source reports suggested that UK Gov't officials do not
see a Brexit deal being reached in 2018.
- USDJPY has consolidated above 106 & tracked higher in early Asian dealing as
rumours circle that North Korean leader Kim has offered to meet with US
President Trump.
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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