Sterling was unchanged on the week against the Swiss franc and lost nearly a whole US cent. Elsewhere, however, it made headway, strengthening by an average of 0.4% against the other major currencies.
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It was a game of several halves for sterling. Last Friday it was the top-performing major currency. On Tuesday it was the rear. Then on Wednesday and Thursday the pound was just about unchanged against the euro and US dollar.
On Monday, Tuesday, Wednesday and Thursday sterling was either last or joint-last among the major currencies...
After its second week of humiliation by the market, sterling enjoyed a slight boost early Friday morning following the much-anticipated resignation of PM Theresa May.
It was an interesting week for British politics and the pound. The Brexit process stumbled again and the screws were tightened on sterling in a way not seen for a month and a half.
Sterling achieved a lead of more than 1% over its closest competitor in the last week. It was an average of 1.5% higher against the other ten most actively-traded currencies.
After putting Brexit out of their minds over the holidays, investors had to start grappling with it again when the first proper working week of 2019 began.
Given the heightened level of Brexit uncertainty, sterling's week went better than might have been feared...
The Brexit story and the tribulations of Britain's prime minister more than once dragged down the euro in sterling's wake...
As Harold Wilson remarked in the run-up to the 1964 election, ‘A week is a long time in politics.’ It probably seems like that to PM May after a week of high political drama surrounding her draft EU withdrawal deal.