The cross moved lower in NY hours on.....>

DOLLAR-YEN: The cross moved lower in NY hours on Thursday as US President Trump

appeared increasingly belligerent re: North Korea, specifying that North Korea

will not get a deal if it doesn't give up its nuclear program, adding that the

North Korean issue is "not a one meeting deal." Secretary of State Mike Pompeo

followed this up by reiterating the conditions for a deal, but he did state that

NK Leader Kim has indicated that he is willing to denuclearise. The rate then

moved lower on the spike in US Tsys that was attributed to a fat finger,

punching a low of 109.48, before the move/Tsys faded, last deals at ~109.75.

- Support is noted at the June 04 low (109.36), while resistance comes in at May

22 hourly support (110.72).

- After a disappointing final Q1 GDP print focus now turns to next week's BoJ

decision. A Nikkei article has suggested that "the BoJ will look into why

inflation remains weak at its policy-setting meetings in June and July, and

could downgrade its price forecasts for fiscal '18 & later. This reassessment

may lead the BOJ to bring its price forecasts closer to those from

private-sector economists."