Highlights of the latest Market Research release on GBP.
Full research available here.
Without any doubt, the British Pound has been the best performing currency on the foreign exchange in course of the previous working week. There were many influential factors that altogether managed to push the UK currency considerably to the upside. The green performance has been observed against all major currencies, with the biggest increased posted by GBP/NZD and GBP/CHF crosses of 4.49% and 3.47%, respectively. Other currency pairs of the Sterling, however, followed shortly with significant gains as well. In the meantime, the Kiwi lost the most last week, as continuous weakness pushed its currency down by 1.81% on a weekly basis.
Judging from the main volatility chart, it may seem that the Sterling has been increasingly volatile during only one weekly eventthe UK General Election on Thursday. However, the real situation used to be slightly different, and the Pound was turbulent for the biggest part of all time throughout the week. Elevated volatility indicator stayed at 54%, which is way above the number seen during two previous weeks. Moreover, the market average elevated volatility of 48% has also been surpassed. Among currency pairs, the most turbulent one used to be the GBP/NZD (62%), reflecting strong divergence between price developments of these two currencies last week.
The period was rich with influential fundamental releases on the Pound, in particular, thus resulting in rather volatile correlations. The distributions of the components have also had quite long and wide tails in the majority of all cases, except GBP/EUR with GBP/CHF. The composite itself, which measures the significance of the Pound on the market, stayed at 0.53 on average, much higher than both 20, 130 and 250-day averages, as well as above the level seen two weeks ago in our previous review. Meanwhile, GBP/CHF and GBP/EUR, along with GBP/EUR and GBP/SEK demonstrated one of the highest correlations during the week at 0.79 and 0.72 points on average, respectively.
Full research available here.
Without any doubt, the British Pound has been the best performing currency on the foreign exchange in course of the previous working week. There were many influential factors that altogether managed to push the UK currency considerably to the upside. The green performance has been observed against all major currencies, with the biggest increased posted by GBP/NZD and GBP/CHF crosses of 4.49% and 3.47%, respectively. Other currency pairs of the Sterling, however, followed shortly with significant gains as well. In the meantime, the Kiwi lost the most last week, as continuous weakness pushed its currency down by 1.81% on a weekly basis.
Judging from the main volatility chart, it may seem that the Sterling has been increasingly volatile during only one weekly eventthe UK General Election on Thursday. However, the real situation used to be slightly different, and the Pound was turbulent for the biggest part of all time throughout the week. Elevated volatility indicator stayed at 54%, which is way above the number seen during two previous weeks. Moreover, the market average elevated volatility of 48% has also been surpassed. Among currency pairs, the most turbulent one used to be the GBP/NZD (62%), reflecting strong divergence between price developments of these two currencies last week.
The period was rich with influential fundamental releases on the Pound, in particular, thus resulting in rather volatile correlations. The distributions of the components have also had quite long and wide tails in the majority of all cases, except GBP/EUR with GBP/CHF. The composite itself, which measures the significance of the Pound on the market, stayed at 0.53 on average, much higher than both 20, 130 and 250-day averages, as well as above the level seen two weeks ago in our previous review. Meanwhile, GBP/CHF and GBP/EUR, along with GBP/EUR and GBP/SEK demonstrated one of the highest correlations during the week at 0.79 and 0.72 points on average, respectively.