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Sterling Sloppy Into Friday Close

FOREX

Having outperformed for much of the first half of the week, GBP spiralled into the Friday close as markets pondered the likelihood of a deal by the end of the weekend. Betting markets had trimmed the implied probability of a deal by year's end by a decent margin into the Friday close, mirroring the pullback in the pound - the poorest performer in G10.

The greenback fared better, as softer equities state-side prompted some risk-off flow. The bounce in the dollar was modest, at best, however as the USD index still trades in close proximity to the multi-year lows posted Thursday at 89.730.

Markets should thin out in the coming week, with the proximity to Christmas holidays sapping activity and volumes.

Another read of US GDP for Q3, consumer confidence data and existing/new home sales are the only real releases. Central bank decisions come from Turkey.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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