The dollar sits modestly weaker at the.......>

DOLLAR: The dollar sits modestly weaker at the European open with AUD & NZD

registering solid gains across the board. USDJPY touched highs of Y111.90,

before easing off its best levels of the session following risk averse headlines

from TASS suggesting N.Korea is mulling suspending denuclearisation talks with

the US.

- The DXY holds toward the lower end of its 96.60-78 Asia range with downside

focus on the 100-dma at 96.56. Below here opens a move toward 96.38/27 which

represents the Mar 13 low & 76.4% retracement of 95.82-97.71. Bulls look to

clear the 97.00.00/05 area which holds a series of previous highs & the 50% fibo

of 97.71-96.38.

- Renewed dollar selling has allowed gold to recover the $1300 handle, extending

the move to $1302.18. Near-term resistance is seen from the channel top & 21-dma

at $1309.73/1310.08. Please see yesterday's MNI Analysis email - Gold A Safe Bet

- for further levels.

- WTI & Brent consolidate towards the peak of their respective overnight ranges

and remain at elevated levels.