GBP moves higher on Brexit vote delay rumblings
The NZD is the strongest and has been trending higher helped by a break above its 200 day MA at 0.67952 today. The USD is the weakest. The GBP moved lower but shot higher in the London morning session on the back of rumblings on a delay of the Brexit exit on March 29th (see post here). Some of the gains were retraced on a denial. The GBPUSD rise did extend what has been a very narrow trading range for the week of 98 pips. It has been an up and down ride for the pair this week.
The changes and ranges are showing low volatility in the EURUSD, USDJPY, USDCHF (which rose sharply yesterday — the CHF was by far the weakest currency). The GBPUSD range of 141 pips was more than the entire range for the week prior to today. The USDCAD, AUDUSD and NZDUSD have decent activity and trade near extreme levels (lower USD).