USD soft across the board - The dollar........>

FOREX: USD soft across the board

- The dollar opened the European session moderately weaker across the board with

the downward trend set to continue at the NY crossover.

- AUD underpinned by the rally in Chinese stocks is the stand out performer in

G10 with gains of 0.64%. The RBA left policy on hold overnight, maintaining its

central view on the economy. AUDNZD cleared NZ1.10, AUDJPY comfortably holds

above the 100-dma, while EURAUD trades back under A$1.56.

- Despite the earlier release of soft German Industrial Production data, EURUSD

rallied 40+ pips to $1.1593, lending support to the crosses. EURJPY challenges

the Y129 level, EURCAD consolidates above C$1.50.

- USDCAD dipped back under C$1.30 amid an improving commodity picture, with

focus on a break of the 100-dma (C$1.2961). CADJPY has so far rejected a move

above the 200-dma at Y85.85, EURCAD continued its downtrend to C%1.5009.

- Lack of Brexit headlines has seen GBPUSD hold a narrow $1.2938-74 range.

- In EM space TRY improved over 1.5% against the USD to Try5.1827, while gold

gained $7 on the session to $1214.84.