British Pound Sterling Price: GBP/USD lost its traction and dropped to its lowest level in a week
|GBP/USD trades below 1.3000 as investors try to predict BoE's next move
After closing the first day of the week virtually unchanged near 1.3060, the GBP/USD lost its traction and dropped to its lowest level in a week at 1.2975. As of writing, the pair was down 0.48% on a daily basis at 1.2990.
Brexit moves the pound and the euro in different ways
There is a remarkable trend in the currency market. The EURUSD volatility weakened last year to levels never seen before in the single currency 20-years history. The low fluctuation of the FX market is a sign of equilibrium, where the euro and dollar are on one side, and "yielding" EM currencies - on the other.
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