• Trades off 0.45% with the USD up 0.54% as UST yields rise 10yr +3bp 4.472%

• EUR is USD-led in Asia, but the Euro is soft EUR/GBP -1%, EUR/JPY -0.6%

• Trump pledges 25% tariffs on Canada and Mexico, deeper tariffs on China

• Tariff increases of this magnitude will flow on to increased inflation

• Charts - conflicting daily momentum studies as 21-day Bollinger bands slip

• 5, 10 & 21-day moving averages track lower, the bearish setup remains

• Thursday's 1.0555 high, then last week's 1.0610 top are the first resistance

• 1.0350 lower 21-day Bolli band and Friday's 1.0331 low are initial supports

• 1.0475 1.606 BLN and 1.0500 2.093 BLN Nov 26 strikes likely contain in Asia

For more click on FXBUZ