Europe FX Handover - 26th March 2019

A snapshot view of currency moves ahead of the US open.

  • Dollar Index traded flat to slightly firmer throughout most of European session, with GBP climbing on Brexit delay and soft exit hopes
  • Brexit latest: MPs seized control of the exit process last night. A few ministers resigned to join a cross-party effort to develop a Plan B to Prime Minister Theresa May’s deal.
  • Elsewhere,  safe-haven precious metals (and JPY) weakened as major EU indices regained their poise after a big sell-off Friday, following on a firmer Asian session overnight. Government bond prices fell as market participants wondered whether recent concerns over a recession are justified. Crude oil gained ground amid risk-on rebound. It remains to be seen if the risk rally can sustain itself given recent worries over a recession.

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