USDJPY has added 15 pips or so to........>

DOLLAR-YEN: USDJPY has added 15 pips or so to trade at 109.55 last, back from

the 109.83 highs. The cross was supported by early risk on flows as the June 12

US-North Korea summit seems a more likely proposition than it did 48 hours ago,

with Trump a little more upbeat on the matter in comments made over the weekend.

Elsewhere the Italian President blocked the formation of the M5S/League

government as he vetoed their EconMin nomination, Savona, owing to his anti-EUR

stance. This will likely send Italy back to the polling booths.

- The pair's strength faded around the Tokyo fix, as the cross moved to

unchanged levels, before softening to a low of 109.32, before ticking higher as

Europe came in for business.

- Losses defined last week adding weight to the case for a correction back to

107.85-108.53 where the 21-WMA (Y108.16) and 55 & 100-DMAs (108.02-23) are

situated. Bulls need a close above the 21-DMA (109.82), which capped the earlier

rally, to gain breathing room.