Some of the flows that we’ve been talking about over the last few days have been suggesting that the GBP might continue to struggle on the crosses and this trend has indeed continued. The sterling and the US dollar are now clear leaders in the ‘ugly’ contest with all of the other majors, EUR, JPY, CHF and AUD, showing some significant strength. The most significant technical event being the daily close in USD/CHF below previous major lows.
Good luck today and TGIF.
