USD remains bottom of the pile at the........>

DOLLAR: USD remains bottom of the pile at the European crossover, driven by

sharp falls in UST yields. The 10y traded below its 200-dma for the first time

this year, touching lows of 2.9353%. The short-term outlook has now turned

bearish with next support seen at 2.9132% which represents the 76.4% retracement

of 2.8063-3.2594. The DXY failed to reclaim 97 with the subsequent reversal

extending to 96.66, while gold continued its recent uptrend, gaining $8 on the

session to $1238.44, its highest levels since October. Near-term resistance is

seen at $1238.99 which represents the 38.2% retracement of the 2018 range, above

here opens a move toward the $1250 area and 200-dma, currently at $1257.44.

Yesterday's failure to challenge Y114.00 has seen USDJPY touch pullback lows of

Y113.05. Up trendline support off the Mar low comes in today at Y112.73, below

here opens the 100-dma at Y112.25.