Currency Market Review:

Summary:

• Pound Sterling to Japanese Yen (GBP/JPY) was the biggest gainer this week.
• The Euro gained on the Australian Dollar this week.
• The Swiss franc fell against the other major currencies.

GBP/JPY

Pound Sterling to Japanese Yen (GBP/JPY) was the biggest gainer this week from the I Know First algorithm with a return of 2.36% for this currency pair. Following reports of a delayed Brexit the sterling has climbed with the market deciding that the chanced of a Brexit process are slim and investment into the sterling has increased. The Yen is the third most traded currency on the foreign exchange market after the USD and Euro.

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GBP/CHF

The Swiss franc fell against the other major currencies this week, extending the broad-based decline seen in recent sessions amid heightened expectations for further intervention by the Swiss National Bank against the currency.

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EUR/AUD

The Euro gained on the Australian Dollar this week. While inflation remains in hibernation and European factories are seeing inventories increase as orders drop, companies are nonetheless continuing to hire, despite increased spending by consumers are due to rising wages. This is the main reason why European Central Bank officials are perhaps reluctant to race into action to respond to the slowdown sweeping across the region.

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How to interpret this diagram

Please note for trading decisions please use the most updated forecast results.