XE Market Analysis: Europe – May 13, 2019

The Yen has remained buoyant while the Dollar bloc and other currencies with a higher beta characteristic have weakened amid a risk-off sentiment. Relations between the U.S. and China on trade remain fraught; the U.S. on Sunday demanded promises of concrete changes to Chinese law, while Beijing said it would not take “bitter fruit” that harmed its interests. Stock market in Asia came under pressure, with China’s CSI 300 index showing a 1.8% loss in late PM-session trading, while S&P 500 futures are down over 1% in overnight trade.