Market Research: GBP

Source: Dukascopy Bank SA
The Pound traded generally above the main baseline for the most of the period ended December 15. At the same time, some weakness provided by bearish market participants at the end of the five-day period resulted in a decline of the GBP Index. Thus, it used to finish the week with literally no change in value. Similar to the UK currency, the Swiss Franc finished the week with a loss of only one basis point. The biggest losers were CAD and AUD, as they failed to cope with declining oil prices. Another commodity currency, the Kiwi, was surprisingly the best weekly performer, which rallied by 1.74% in five days. Despite the Reserve Bank of New Zealand delivering a so-called "hawkish cut" to the key interest rate, economists see an improvement in terms of NZ fundamentals, which should further underpin the local currency in the nearest future.

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