Sterling posts losses to end the trading week
Sterling has ended the week on negative note following some multi year highs experienced earlier in the week. In fact some of the ground sterling has made has been pretty significant having rallied, at one point, over 4.5% against the US dollar in just over a week to reach a post Brexit high of 1.4325.
A strong run had also been seen against the euro with sterling pushing to a near 6 month high on Wednesday. As with the GBP/USD this rally was not to last and sterling has tailed off to finish the working week. With on-going Brexit negotiations likely to keep the pound in check, particularly against the Euro one could argue these current levels may not last for long. Interestingly the pound has breached 1.14 five times in the last six months and on every occasion has fallen sharply. Should this trend continue then these current levels may not last for long.
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