US FX Handover – 27 March 2019
Matt Weller, CFA, CMT March 27, 2019 3:54 PM
See a summary of the top FX themes and trends from today's US session!
- Parliament is currently voting on a series of non-binding “indicative” votes on the future path for Brexit, while some Euroskeptic lawmakers agree to support PM May’s deal in exchange for her resignation. Uncertainty still reigns supreme, though the pound was nonetheless the strongest major currency on the day as traders decrease bets on a disastrous no-deal Brexit.
- The dollar rallied against emerging market currencies including China’s yuan, the Mexican peso, and the Turkish lira as President Erdoğan tries to prevent the currency from being lent abroad
- The kiwi was the weakest major currency after the big dovish shift from the RBNZ.
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