EU FX Handover: Risk Off
Fawad Razaqzada May 23, 2019 2:01 PM
A summary of news and snapshot of moves ahead of the US session.
- The euro was coming under increased pressure to break lower following the publication of further soft Eurozone data this morning, with investors also dumping stocks, government bonds and commodities amid ongoing concerns over trade wars and slowing economic activity.
- Canadian dollar was the weakest as oil prices fell sharply on increased risks from a US-China trade war and rising inventories in the US.
- Pound rebounded after a weaker open after UK Prime Minister Theresa May appeared to abandon plans to put her Brexit deal to parliament. She has faced significant pressure to resign.
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