The S&P 500 had another good week, posting a 2.9% gain and the Dollar, which had been on a multi-week slide, finally stabilised and appreciated a modest 0.3% in trade-weighted terms. Mounting evidence that Eurozone economic growth remains under pressure contributed to the Euro weakening 0.7% to a seven month low. The Swiss Franc weakened by a similar magnitude.
Sterling, perhaps surprisingly, managed to appreciate 0.8% last week with markets seemingly growing more confident that the UK will not leave the EU without a deal on 29th March.
The Australian Dollar was broadly unchanged despite compelling evidence that Chinese GDP growth continues to slow while the New Zealand Dollar retreated by about 0.8%
