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GBP/USD – Sterling/dollar volatility picks up in wake of Brexit vote
It was a wild 48 hours of trading late last week in the FX markets, particularly in the GBP/USD and GBP crosses. Heading into the UK referendum (Brexit) vote, the market was pricing in a 75% chance that the UK would remain in the European Union, which saw the price of the GBP/USD move up into 1.5000 level initially.
However, as the voting numbers started rolling in, it quickly became clear that the majority of voters (although only marginally) where in favor of leaving. The realization of Brexit saw traders sell ... (read more)