US equities have made a small recovery in mid-day trading with the S&P up about 0.3%.
Moves in currency majors remain modest, with Sterling leading the charge. It’s currently up about 0.5% versus the Euro and 0.2% versus the Dollar with traders’ net long Sterling positions reportedly at their highest since 2014. Not clear what the catalyst is for this latest up-tick in Sterling but Brexit concerns seem to have taken a back seat for now and UK manufacturing activity was marginally higher in March despite the recent cold snap.
