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Jan 10 - 07:55 AM

GBP/USD - COMMENT-GBP/USD Set For Wider Range This Year Than Last

By Rob Howard  —  Jan 10 - 05:35 AM

Cable will trade a bigger range this year than last if a trend stretching back a decade extends - with or without the help of the U.S. Presidential election and UK general election event risks.

Over the past 10 years, GBP/USD has traded consecutively smaller and larger ranges compared to the previous year.

The 2014 range of 17.06 cents was followed by 13.63 cents in 2015, before a jump to 35.31 cents in 2016 - when the pound slumped after Britain voted to leave the European Union.

The range was 16.76 cents in 2017, then 19 cents in 2018, 15.57 cents in 2019, 22.73 cents in 2020, and 10.88 cents in 2021, before a leap to 34.22 cents in 2022 - which was primarily due to 'Trussonomics'.

This was followed by a drop to 13.39 cents in 2023, when 1.1805-1.3144 encompassed cable's parameters (low in March; high in July).

Most of the air will deflate from the U.S. presidential election risk balloon if Donald Trump is not on the ballot paper for Nov.

Related column/comments: nL8N3DY6BOnL1N3DT0HEnL1N3DV0MK

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Refinitiv IFR Research/Market Commentary


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