U.S. Pres Trump failed to substantiate.......>

DOLLAR: U.S. Pres Trump failed to substantiate earlier bombastic pledges of

"substantial" & "dramatic" measures to aid the economy amidst the coronavirus

crisis, which has prompted participants to sell USD in the Asia-Pac session.

Press reports have pointed to Dems vs. Reps divisions over the details of a

stimulus plan. In addition, the spread of Covid-19 across the U.S. has continued

to fuel concerns, as the country's case count topped 1,000 & CDC said that in

some places the epidemic is beyond control. USD is the worst G10 performer.

- Early projections of Joe Biden defeating Sanders in the key Michigan primary,

as well as contests in Missouri & Mississippi, weren't enough to prop up USD as

mkts had already priced Biden's position as the frontrunner. Unconfirmed rumours

were doing the rounds suggesting that Sanders mulls suspending his campaign.

- WSJ reported that the White House is poised to extend the Apr 15 tax deadline.

- DXY sits -28 pips at 96.13, with bears looking to take out y'day's trough at

95.23 before bringing the Mar 9 low of 94.65 into view. Bulls take aim at

y'day's high of 96.58, followed by the 38.2% retracement of YtD range at 96.66.

- WTI last trades ~$0.90 higher, with gold ~$14.7 higher.