The USD under renewed pressure after..........>

FOREX: The USD under renewed pressure after President Trump fired Secretary of

State Rex Tillerson.

- Usd/Jpy held firm ahead of US CPI and squeezed to react highs of Y107.29, but

was quick to pare gains after it came in at 0.2%, slightly under the whisper

number of 0.3%. The Washington Post reported that President Trump had fired Sec

of State Tillerson, this triggered USD selling across the board and continued

heavy for the balance of the session.

- Gbp benefiting from the USD sales also gained support after an upbeat fiscal

year outlook in the spring statement which saw the UK raise its 2018 economic

growth forecast to 1.5% vs 1.4%. Cable touched $1.3994 before meeting stiff

resistance on approach to $1.40. Eur/Gbp eased to Gbp0.8851 but remained well

supported ahead of the 100-dma (Gbp0.8849).

- Eur and Aud witnessed decent gains. Eur/Usd moved through $1.2400 to $1.2407,

Aud/Usd squeezed to $0.7898 but later faded.

- Usd/Cad spiked through C$1.2900 on dovish BoC Governor Poloz remarks on

caution over future rate moves, gains extended to C$1.2977.