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By xemarketanalysis March 20, 2017 12:21 pm
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    XE Market Analysis: Article 50 Triggers Date Set

    OVERVIEW

    • The Pound is steady as a date has been set for triggering Article 50. 
    • US Dollar weakens as potential delays to President Trump's massive infrastructure plans occur. 
    • The Euro strengthens as geo-political concerns over the presidential election subside.  

    HIGHLIGHT

    The Pound is largely unchanged today as the UK Prime Minister’s office confirmed that Theresa May has informed intentions to EC President, Donald Tusk, to trigger Article 50 of the Lisbon Treaty. This is the formal notification of the UK's intention to leave the European Union. The European Commission says, "everything is ready on this side" and that they “are waiting for notification".

    US DOLLAR

    The Dollar has given back some of its recent gains against the Euro and Sterling as investors are worried that the Healthcare Bill will delay the infrastructure spending that has given the Dollar a recent boost. 

    BRITISH POUND

    The British Pound has had a solid start to the week as Rightmove, the property website, said the average property asking price was up by 1.3% in March. The Pound does remain vulnerable in the weeks ahead as Theresa May is set to evoke Article 50.  

    EURO

    The Euro is stronger today as it trades at a 5-week high against the Greenback after geo-political risks around Marine Le Pen winning the French presidential election faded last week. The latest polls have Emmanuel Macron as a favorite to win the presidential election in late April/early May. 

    CANADIAN DOLLAR

    The Loonie is weaker today as crude oil prices have dipped on supply concerns. The currency remains vulnerable to any changes in trade agreements with the U.S. and any amendments to the OPEC reduced supply agreement. 

    AUSTRALIAN DOLLAR

    The Aussie Dollar has taken advantage of the weaker Dollar and is marginally stronger on the back of the Dollar selloff. The commodity based currency continues to be a risk play to find yield when global interest rates are at historic lows. 

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