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The USD managed to post modest gains..........>

FOREX
FOREX: The USD managed to post modest gains against most of the majors.
- Reports made late on Sunday suggested that German CSU party leader Seehofer
resigned as the German interior minister re: disputes with Merkel's governing
CDU over migrants. Recent comments from Seehofer point to him remaining in
politics if the CDU backs down on migration matters. EUR was volatile in early
dealing, aided by comments from German C'llr Merkel stressing that she will
pursue migrant pacts with Germany's EU partners, after her CDU party gave her
firm support on the matter.
- CAD was pressured by the weaker oil complex, USD/JPY had a brief look above
Y111.00.
- MXN surged as pre-election favourite & socialist "AMLO" took a huge lead in
the exit polls of the Mexican Presidential election, but MXN pared over half of
its gains vs. USD after polls suggested that the socialist party could win an
outright majority in congress.
- Focus on Monday falls on Manufacturing PMI data from across the globe &
comments from ECB's Praet.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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