Theresa May has sent a formal notice of the United Kingdom's intention to leave the European Union, kicking off the two-year process of separation known as Brexit. In response, the Pound falls slightly against the Dollar but rallies against the Euro.
Brexit appears to be largely priced into the value of the Pound, and this may represent the last major shock for the British currency in the near term. However, the technicals for the Pound suggest the upside faces resistance.
In the United States, Donald Trump has hit his first major policy roadblock, failing to push legislation to repeal and replace Obamacare. Many market participants fear this setback may be the beginning of the end for the "Trump bubble" in U.S equities.
The U.S dollar index closes the month of March down, and this is good news for precious metals.