Asia FX Handover - 28th March 2019
Matt Simpson March 27, 2019 11:33 PM
A snapshot view of currency moves throughout the Asia session, ahead of the UK open.
- Yields remained under pressure from growth fears, seeing the US10Y hit its lowest level since December 2017 at 2.34% and the AU10Y hitting another record low. Copper remains beneath key resistance due to the stronger dollar. US index futures ticked lower.
- Fed’s (usually hawkish) Esther George sees a ‘wait and see approach’ for policy, even though ‘US fundamentals still appear sound’. Citing the slowdown in China, EU and UK as the biggest threat to medium-term growth, George also sees growth decelerating towards 2%.
- Light news today in Asia saw FX pairs trade in tight ranges overall, although JPY is the strongest major which saw USD/JPY touch a 2-day low. GBP/USD pared losses after the UK parliament failed to agree on an alternative Brexit plan last night.
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