Sterling ends the week as one of the best performing G10 currency

The appointment of Boris Johnson as Prime Minister did little to move the Pound, as it had been completely priced in by the markets.

No news proved good news for Sterling last week, which ended up outperforming all G10 currencies. There was little news on the Brexit front, but with Johnson demanding a revision to the Irish backstop and the EU reiterating that the current deal cannot be renegotiated, odds makers are slowly increasing the likelihood of a no-deal Brexit. Our base scenario is still that the Brexit issue cannot be resolved one way or another without a general election

GBP/PLN (22/07/19 - 29/07/19)

Source: Bloomberg Date: 29/07/19

Author: Enrique Diaz-Alvarez, Chief Risk Officer at Ebury

Keywords Ebury, GBP