White House to exempt S. Korea...
The WSJ is reporting that Pres. Trump has decided to postpone the steel and aluminum tariffs for EU and other allies until June 1. Canada, Mexico also postponed.
US has reached an agreement in principle on tabs with Argentina, Australia and Brazil. Details will be finalized by June 1.
There is a small sigh of relief by the markets.
The administration will announce on Monday evening that it has finalized a deal to exempt South Korea from tariffs.
The USDJPY has inched higher and trades back to unchanged on the day. The high reached 109.32. The low for the day extended to 109.22.
The EURUSD is up a few pips as well to 1.2083. The low reached 1.2072 in the quiet trading.
The EURJPY has moved higher and trades above a swing area at 132.02-10. The pair stalled yesterday at the low from Friday. The move above the "yellow" swing area is more bullish. Close risk is a move back below 132.00. We should see more buying on the back of the double bottom and getting above the swing area.
