As London traders go home, their currency is down over 1.10% vs. all others

As London traders go home, their currency is down over 1.10% vs. all others


The weakest is not even close.

As London traders exit for the day, their currency is worth less by over 1.1% against all the major pairs.That makes it the weakest currency by far vs. it’s peers.  The USD is the strongest currency with most of those gains coming on the back of a 1.46% rise vs the GBP.  

So how did the weakest currency of the day, do this week?

Looking at the changes of the GBP vs the major currencies, the GBP is actually near unchanged vs the USD and is even higher vs the JPY.   It is down vs the rest of the majors with the largest declines vs the AUD and NZD, but most of the declines were from the price action today.  

In pips, the 5 day change of the GBPUSD is 8 pips higher.  The GBPAUD and GBPNZD have moved over 300 pips lower. 
But for the day, the GBPAUD is down -226 pips and the GBPNZD is down -266 pips.

What does it mean?

It means the GBP was looking ok/better coming into the day, but today has taken ok/good out of the currency.

ForexLive



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