The pound could be entering a new phase of being unloved. In the vanguard is EUR/GBP which has blasted through the downtrend drawn from October's flash crash. When the second-largest global reserve currency is on a roll, GBP and others will be brushed aside. But the pound is also feeling the heat against the yen and the Swissie. Even GBP/USD is struggling to break into a higher trading range, despite all the dollar's current woes. The complexity and duration of the Brexit process is a good excuse for investors to avoid making bullish GBP bets for some time yet.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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