The rest of the world digested the Macron win and continued to take profit on the EUR, pressing the curre

GBL: EUR Pressured

Global Markets Daily by Saktiandi Supaat

FX Research

The rest of the world digested the Macron win and continued to take profit on the EUR, pressing the currency towards the 1.09-figure as we write. USDJPY made a U-turn higher, guided by the rebound in UST 10yr yields. We recall that May is a particularly bullish month for the USD in terms of seasonality. We remain constructive on USDAsians including USDSGD, USDCNH, USDKRW, USDMYR and USDTWD, USDIDR, USDINR.