Trump livens up holiday-thinned session.......>

FOREX: Trump livens up holiday-thinned session

-Today's UK Bank Holiday may have thinned volumes, but newsflow has been thick

and fast, with Trump's attendance of the G7 Summit still making waves. The

President noted that China called U.S. trade negotiators last night & they want

to come back to the negotiating table, adding that this is a very positive

development for the world. Markets largely shrugged off later comments from

China's MOFCOM, who said they are not aware of any weekend phone calls with the

US. The comments prompted USD/JPY to run to fresh session highs just short of

the Y106 handle. Bulls will look to gain a foothold above here, tilting focus to

Y106.74, the Aug 23 high and recent congestion area.

-German IFO data has been the only notable release of the morning and came in

well below expectations, missing on all three major measures. EUR generally

shrugged off the release, but the USD remains well bid, gaining against most

others in G10.

-US President Trump and his French counterpart Macron are due to hold another

press conference later today at the close of the G7 summit.