The House of Representatives seeking to block arms sales to Saudi Arabia - WSJ

The Wall Street Journal reported that The House of Representatives approved the first of three resolutions Wednesday aimed at blocking lucrative arms sales to Saudi Arabia and the United Arab Emirates, joining the Senate in disapproval of the weapons deals and setting up a likely presidential veto.

Fueled largely by bipartisan concern over Saudi Arabia’s protracted war in Yemen and the brutal killing of journalist Jamal Khashoggi by a Saudi hit team in Turkey last year, Congress moved to block the U.S. from fast-tracking sales of precision-guided missiles.

There is no material impact on the FX space here, but it is worth noting amid mounting tensions with Iran if which risk currencies and oil come into focus.