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USD closes off the quarter in the middle of...>

FOREX: USD closes off the quarter in the middle of the pack despite a strong
-USD looks to finish Q1 with gains against the SEK, CAD and AUD, but losses
against all other G10 FX as the currency becomes increasingly political. The USD
dropped today as US Treasury yields fell throughout the session, prompting the
US 2s10s curve to trade at its flattest since 2007. A lower than expected
Chicago PMI release further hurt a greenback that was slightly stronger
throughout the European morning.
-Sterling is the weakest currency of the day as data showed mortgage approvals
and house prices falling below expectations, just as the clock shows exactly one
year until the UK leaves the EU.
-JPY is the strongest currency of the day as month-end and quarter-end flows
dominated, breaking the correlation between USD/JPY and the S&P500 which is
still attempting to finish the quarter in the green.
-Markets will be quiet over the Easter weekend, but the data calendar picks up
next week, culminating with the NFP report on Friday.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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