Hits the highest level since the 2017 general election
Option traders are expecting a big swing in the pound later today and it's showing in terms of the volatility pricing already. The overnight implied volatility in cable has jumped up to ~26% now and it is suggesting around a 1% move in the pound on either side today, according to analysts at Commonwealth Bank.
Cable holds steady near unchanged levels on the day now at 1.2865 but this is very much the calm before the storm.
