Risk appetite improves, USDCHF through........>

FOREX: Risk appetite improves, USDCHF through parity

- The USD caught a fresh bid tone at the NY crossover registering further gains

across the board. USDJPY touched six-month highs of Y112.63, EURUSD eased to

$1.1650 and GBPUSD dipped back under $1.3200.

- However, a delayed react to the miss on headline US CPI (0.1%m/m vs median

0.2%) saw the unwinding of USD long positions. USDJPY was quick to pare gains

before settling around the Y112.40/45 area.

- EURUSD failed to breach the $1.1700 level, printing highs of $1.1696. ECB

minutes were broadly inline with those delivered from the press conference. 

- Broad-based USD sales boosted GBP back through $1.3200 to extended recovery

highs of $1.3245. The Brexit white paper was released but failed to react.

- With safe-havens on the defensive, USDCHF traded back above parity before

topping out at Chf1.0024. EURCHF tracked the move through the 200-dma(Chf1.1675)

to Chf1.1708, stalling just shy of the 100-dma at Chf1.1712.

- Commodity tied FX was top of the G10 pile against the USD. AUD (+0.55%)

squeezed to $0.7420, CAD (+0.30%) improved to C$1.3150 and NZD (+0.23%) $0.6786.