20 Jun 2014
Sterling trading 6 year highs - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the pound is trading at a 6-year high against the dollar at just over $1.7050.
Key Quotes
"Meanwhile, the spread between 2-year UK gilts and US Treasuries has widened to 44 bp, from 28 bp around the middle of last week. However, sterling has remained roughly stable against the euro this week, with the EUR/GBP cross failing to break below the 0.7550 level even though yields have favored sterling. The spread between 2-year gilts over bunds has widened to 86 bp from 82 bp last Friday."
Key Quotes
"Meanwhile, the spread between 2-year UK gilts and US Treasuries has widened to 44 bp, from 28 bp around the middle of last week. However, sterling has remained roughly stable against the euro this week, with the EUR/GBP cross failing to break below the 0.7550 level even though yields have favored sterling. The spread between 2-year gilts over bunds has widened to 86 bp from 82 bp last Friday."