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Europe FX Handover – 29 March 2019


  • All eyes are (once again) on UK Parliament, amidst headlines that some Labour MPs are flipping to back PM May’s Brexit deal. Market expectations are for another setback for May, albeit in a much closer vote. Sterling was nonetheless the strongest major currency ahead of the US open.
  • The US and China are reportedly hammering out the details on a truce to the trade war, with Treasury Secretary Mnuchin tweeting on the conclusion of “constructive trade talks” in China. China’s Liu He will be in Washington next week to continue the discussions.
  • The yen is the weakest major currency on the day so far, after the BOJ left bond-buying operations unchanged for April.

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