It is month-end so it is no shock to see month-end flows driving the foreign exchange market at present. The US greenback strengthened forward of the London repair at present after which rapidly gave it again.
The timing of the transfer suggests it was flow-driven somewhat than essentially drive. If something, there was a purpose to promote the US greenback earlier than the repair as client confidence knowledge missed expectations.
The transfer was seen throughout the board with cable significantly risky.
GBPUSD 10 minutes
