Sterling has been one of the weakest currencies this week, with only the Canadian dollar underperforming in the G-10 currency space.
Pound falls sharply on BoE Governor King’s comments
Sterling has been one of the weakest currencies this week, with only the Canadian dollar underperforming in the G-10 currency space. The pound fell sharply as BoE Governor King warned that a weak currency is required to rebalance the UK economy.
The Norwegian krone was the strongest G-10 currency this week as the central bank considered raising interest rates.
The USD rallied as the Federal Reserve announced plans to scale back the TAF and TSLF programme, leaving equities under pressure.
Across emerging markets the South Korean won out-performed, rallying 1.8% this week to close at its highest in 12-months.
Government bond prices rallied strongly and yields fell after yet another solid week of buying at US Treasury auctions. Sterling corporate supply totalled about £3.5bn this week. 3mth libor fell to 0.55%.