Pound Sterling exchange rates were down across the board over the last week, notably against the Euro and Dollar with GBPEUR seeing lows of 1.1480 and GBPUSD being as low as 1.3660. There a few reasons why we saw this drawdown in GBP- the first is that the “Vaccine Trade” begun in January and much of the investors in this position would have taken profits at 1.18- when we see prices move up relatively quickly in a particular currency or asset, a pullback due to profit taking is always expected and completely natural. Secondly, there has been a lot of news about the Oxford AstraZeneca vaccine not just in Europe but in ... (full story)