Home GBP: “Great British Peso” could continue to rise against USD and EUR – CIBC
FXStreet News

GBP: “Great British Peso” could continue to rise against USD and EUR – CIBC

Analysts at CIBC, point out that GBP implied volatility hast been higher higher than the Mexican Peso over the last weeks and also noted short positions have remained stretched.

Key Quotes:  

“The GBP has been labelled the “Great British Peso” by some commentators given that the high degree of implied volatility recently has resembled an emerging market currency. However, with recent votes appearing to diminish the odds of a no-deal Brexit, the “Pound” has made something of a comeback.”

“Given that net short positions are still very stretched and would be trimmed further if risks continue to diminish, sterling could continue to rise against both the euro and the US$.”
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.