The US$ hit a one-month high as investors exited Asian & European currencies. Global economic concerns, Brexit worries and EU elections left investors little choice but to buy US$.
US$ bounced back against the C$. Falling oil prices coupled with investors focused on safe-haven currencies with concerns over the US/China trade dispute and its impact on the global economy.
Eurosceptic parties expected to poll well ahead in the EU elections, this has added to the uncertainty for Eur today. Additionally poor German manufacturing numbers highlighted the effect of the unresolved trade disputes are having on Germany.
The UK’s political crisis continues and with no Brexit solution in sight, the pressure on GBP will continue.