Quick moves for GBP pairs
One minute the pound is sailing along nicely and the next, it’s been torpedoed. I’m seeing no news behind the moves but cable has been tonked to 1.3200 from around 1.3245. EURGBP is up at 0.8940 from the low 0.89’s. GBPJPY has been hammered down to 148.60 from 149.10-ish.
May’s due to meet Donald Tusk shortly (around 11.30) so maybe there’s been an early comment somewhere or traders are reducing some risk ahead of that. That#s all guess work on my part though. The only true reasoning is that there were far more sellers than buyers 😉