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FOREXNEWSLETTER

Pound Sterling Remains Shaky Against Major Currencies

The British Pound Sterling was one of G10 last week’s main losers, remaining shaky on Friday, January 13 as it was confirmed that Prime Minister Theresa May would give a speech on Tuesday on Britain’s plan to leave the European Union.

One-week implied sterling volatility – options contracts which allow traders to bet or hedge against near-term swings in the currency, spiked to their highest since October at 14.775 GBPSWO=.

It was also set to be the pound’s worst week against the euro since the start of October. It barely budged at 87.25 pence per euro EURGBP=D4 on Friday but was down almost 2 percent from where it started the week.

Against the dollar it was a touch higher on the day at $1.2180 GBP=D4 but on course for its fifth weekly drop in the last six, having hit a three-month low of $1.2038 on Wednesday.

Meanwhile, the euro EUR=EBS clawed up to $1.0630 to bolster a fourth straight week of gains.

 

 

 

 

 

 

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