Analysts at Scotiabank have noted that the pound has traded softly on apparently little or no news.
Key Quotes:
“There are no economic reports of note and little new in terms of Brexit.”
“Sweden warned that “‘hard Brexit” risks are rising – no shock – and Ireland reiterated worries about border issues – ditto.”
“Cross flows perhaps account for the dip in Cable, with EURGBP gains through May/Jun highs around 0.8840/45 triggering stops and lifting the cross to its highest since Mar.”
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