Market Research: GBP

Source: Dukascopy Bank SA
After exceptionally bullish May 6-12 week for the British currency, during the most recently observed period we have seen some downward correction in its value. Excluding two short-term hikes on Wednesday and Friday, the Sterling traded below the baseline for the rest of the time in course of the week. Among other majors, only the Canadian Dollar traded in a more negative trend, against which the Pound gained 0.86%. On the contrary, the strongest drop was registered by GBP/USD and GBP/SEK pairs, which amounted to 1.1% and 0.7%, respectively. Despite that, the monthly change in the Pound's value still remains positive at healthy 3%.

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