Last week’s UK Budget proved to be a non-event for the currency markets, with Sterling ending the week virtually unchanged against both the Euro and the US Dollar. This lack of significant reaction, however, has removed a major piece of political risk and uncertainty that had been weighing on the Pound.
With that hurdle cleared, Sterling may now have some modest room to gain ground from here.
As we enter the final and fastest month of the year, we expect overall market volatility to soften. With global liquidity naturally drying up after the next couple of weeks, we are not anticipating major swings through December- making focused, selective trading key.
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