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Home » Popular Markets » Sterling most notable outperformer in currencies last week.

Market News

via Barclays

  • Sterling was the most notable outperformer last week
  • Emerging market currencies saw significant losses as heightened global volatility expected
  • This week watch for Carney’s speech (Tuesday), UK employment data (Wed) and UK Retail Sales (Thu)

The Pound recorded its biggest two-week rise in eight years against a basket of major currencies after Donald Trump’s presidential victory and the previous week’s High Court Brexit ruling prompted traders to reassess their bets against sterling

The 4% jump in Sterling’s trade-weighted index, measuring the value of the Pound against several currencies including the Dollar, Euro and Yen, cemented the currency’s best fortnightly performance since 2008.

It came as the Euro headed for its worst week against the pound since July 2015 as Mr Trump’s win raised investor concern over populist outcomes in upcoming European referenda and elections, including next month’s Italian constitutional referendum.

On Friday last week GBPUSD was above 1.2600 for the first time since early October, however this morning we have seen retracement back below 1.2500. EURGBP is near a 2-month low, touching 0.8580 before retracing back above 0.8600 this morning.

Today’s currency rates:

GBPUSD today is at 1.2467

GBPEUR 1.1611

EURUSD 1.0737

GBPAUD 1.6544

EURGBP 0.89613

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Avatar for Matt Vann

Matt Vann

Matt has been trading for over a decade, trading with various forms of Futures, Spread Betting and occassionally, CFDs. He'll trade limited markets including Indices, Currencies and selected Commodities such as Silver and Natural Gas.

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