CME Group’s preliminary figures for GBP futures markets noted investors added around 1.5K contracts to their open interest positions on Friday vs. Thursday’s final 194,637 contracts. On the other hand, volume dropped for the third session in a row, this time by nearly 27K contracts.
GBP/USD poised for further consolidation
Cable remains capped by the 1.3100 neighbourhood for the time being amidst shrinking volume and choppy open interest. Although further rangebound is thus expected in the near term, developments around the Brexit negotiations will surely collaborate with bouts of volatility as we get closer to March 29.
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