The Usd came under pressure in Asia as........>

FOREX: The Usd came under pressure in Asia as traders reacted to a WSJ report

that Special Counsel Mueller had subpoenaed Trump's election campaign last

month. This along with reports of N.Korea close to building a submarine with

ballistic missile launch capabilities saw Eur/Usd touch a high of $1.1822 as it

extended the recovery from Thursday low of $1.1757. Sterling traded with a

buoyant tone through the Asian session. Early Europe Brexit comment, tending to

show a softening tone from the UK side, added to the rally as cable extended its

recovery to $1.3257 and Eur/Gbp eased toward Gbp0.8900. Break of the 2017 low in

Nzd/Usd at $0.6817 prompted a general sell of in commodity currencies with Aud

and Cad feeling the pressure. View that China credit and growth slowing down was

already weighing back on the commodity currencies, noted as they struggled to

take advantage of the earlier Usd weakness, the move lower just needed a

catalyst. Jpy basically sidelined in Europe after making some gains in Asia as

early Nikkei gains were unwound. Ahead, Canadian CPI at 1330GMT will attract

interest, with US Housing Starts/Permits released at 1330GMT. Weekend

approaching, expect some position adjustments.