Market Research: GBP

Source: Dukascopy Bank SA
Despite many important events from the UK alone that could potentially have a substantial influence on performance of the British Pound last week, this currency rejected to move far away from the baseline and traded only in a moderate bullish trend throughout the period. The GBP Index showed no major spikes or falls, except some weakness on Tuesday, which drove the currency indicator back down to 100 points. As a result, the week was ended with an increase in value of just 0.03%. The Sterling was showing a clear upward and downward tendency against the same number of other currencies. The highest surge was posted against the Australian Dollar, which was depressed by weak retail numbers released Friday. On the other hand, the safe-haven nature of the US Dollar and Japanese Yen forced these two currencies to climb 1.52% and 1.6% versus the Pound, respectively, and the main reason for this development was the ongoing Greek crisis.

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