EUR/GBP was the top-performing trade this week

  


What were the biggest movers

What were the biggest movers

Speculation about a pivot to larger deficits in the UK was the catalyst for the big jump in the pound yesterday. That pushed the pound to the top of the weekly currency chart and the euro at the bottom is another reminder of how eurozone countries don’t have the same option.

In the middle, the commodity currencies performed admirably in a sight of diminished fears about coronavirus, at least for now.

Looking at EUR/GBP, the pair fell each day this week before flattening on Friday and now sits just above the December low. Anything below that will mark a fresh low since 2016.

EURGBP chart

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