The European morning witnessed a somewhat.....>

FOREX: The European morning witnessed a somewhat dull session with the only real

excitement coming at the London 11 AM London fix, which saw the pound come under

pressure across the board. The arrival of NY initially did not bring any fresh

direction for the first few hours. As the session moved along the market

witnessed a sharp drop in US Tsys yields and surging gold prices, this led to a

broad based demand for yen.

- Aussie: Aud-Jpy supply continued to pressure in early Europe, the kiwi break

of NZ$0.6817 (2017 low) with added weight from Gbp/Aud extended the corrective

pullback to near 5-month lows of $0.7542.

- Pressure on Aussie crosses continued into NY with the rate printing extended

low of $0.7536, before dollar pressure across the board saw the rate grind

towards $0.7570.

- Yen: The release of stronger-than-expected US Housing Starts/Building Permits

provide the dollar with a minor lift to Y112.67, before fading.

- Falling US Tsys yields combined with surging gold prices and demand for Yen

across the board witnessed the rate drop to session lows of Y111.95.