FW: CIMB FX Daily 12 june 2018 - Sentiment Improves Going into Summit

 

 

Good morning,

While we look back 

• Dollar Index traded choppy but in the 93.40-93.70 range ahead of the historic US-North Korea summit today. Investor sentiment appeared positive going into the summit, even as US Secretary of State has emphasized that US will only accept a Complete, Verifiable and Irreversible Dismantlement (CVID) of North Korea’s nuclear program.
• EURUSD rose to its intraday high of 1.1821 after Italy’s new Finance Minister affirmed Italy’s commitment to the EUR, though the pair later pared gains to close around 40pips lower.
• USDJPY rose by around 0.6% yesterday to close at 110.03, with the pair surging again by around 0.35% this morning at last glance to climb above the 200DMA of 110.20 ahead of the summit which is scheduled to begin at 9am

(See attached file: FX Daily 120618.pdf)

Regards,

J Suresh Sundaram
Treasury FX Research
CIMB Investment Bank Berhad
Tel: +603-2261 8339


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