The pronounced surge in crude oil prices surrounding President Trump's decision to pull out of the Iranian nuclear deal is softening as the US rig count rises, while USD is easing its charge versus EM and commodity dollars.

• EM, commodity currencies benefiting from softening USD rally
  
• Xiaomi IPO to be 'the year's biggest event' for equities: Garnry
  
• US rig count rises to 844, the highest level since March 2015