Business Currency & FX Hub

In late September the pound fell spectacularly from above $1.12 to a new record low of $1.035 versus the US dollar.

It’s true that the dollar had been appreciating for many months, and the pound was one of the most undervalued currencies of the year, but this was news making headlines and front pages around the world, and it was exclusively a domestic problem.

For the third day in succession, a test of the psychologically important parity level in Euro-Dollar is underway, but a significant layer of options barriers could yet mean the exchange rate closes above this level again.