GBP narrowly beats out JPY and USD
It was a tight race at the top of the FX charts this week that grew much tighter after today's drop in cable.
Yet sterling has managed to hang onto its title, at least so far. It's a few pips higher on the week versus the yen and US dollar. Cable has risen in 9 of the past 11 weeks in a 640 pip rally since the start of November.
At the bottom of the ledger is NZD after a strong run of outperformance. There's a real sense of retracement this week after a long run for risk assets.
Is it a blip, or the start of something bigger?
