US FX Handover – 28 March 2019

See a summary of the top FX themes and trends from today's US session!

  • UK Parliament will debate and vote on a withdrawal agreement tomorrow in an attempt to “lock in” a May 22 exit date from the EU. Sterling was the worst performer among the major currencies after Parliament rejected all Brexit proposals yesterday.
  • The US dollar was the strongest major currency on the day as bond yields recovered off yesterday’s panic lows and the Q4 GDP revision came in at +2.2%.
  • Mexico’s central bank left interest rates unchanged at 8.25%, and USD/MXN was flat on the day near 19.35 (see our recent analysis on this pair)
  • Gold shed more than 1.5% to trade below $1300, extending its decline from the start-of-the-week highs at 1325.

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