VTWO - Divergence Reinvigorated
Last week the focus was on Europe. Prospects of a delay in Brexit helped extend sterling's gains to 11-week highs. Disappointing flash PMI for the eurozone and a dovish Draghi pushed the euro below $1.13 for the first time since mid-December.
Speculation that the Reserve Bank of Australia would be forced to cut interest rates saw the Australian dollar punch through $0.7100. For its part, the yen was sidelined. The dollar stalled at JPY110 and has remained above JPY109.30 for the past three sessions. The focus in the days ahead may turn back to the