30 Oct 2013
Flash: Pound shows a historical tendency to depreciate in November - ANZ
FXstreet.com (Barcelona) - GBP shows a historical tendency to depreciate against the USD during the month of November, though the average percentage move is not that large, notes Khoon Goh, FX Strategist at ANZ.
Key Quotes
"We find stronger seasonal patterns on selected crosses, with GBP falling against CHF and EUR, while INR tends to fall against the antipodean currencies."
"Among the G10 currencies, GBP has shown a tendency to depreciate against the USD, falling in 10 out of the last 13 years in
November. The average decline is 0.7%, which is not that large."
"However, we find stronger seasonal patterns in GBP against CHF and EUR. GBP has depreciated against CHF in 11 out of the last 13 years during November, with an average move of 1.26%. Against EUR, the decline occurred in 10 out of the last 13 years for an average fall of 1.1%."
Key Quotes
"We find stronger seasonal patterns on selected crosses, with GBP falling against CHF and EUR, while INR tends to fall against the antipodean currencies."
"Among the G10 currencies, GBP has shown a tendency to depreciate against the USD, falling in 10 out of the last 13 years in
November. The average decline is 0.7%, which is not that large."
"However, we find stronger seasonal patterns in GBP against CHF and EUR. GBP has depreciated against CHF in 11 out of the last 13 years during November, with an average move of 1.26%. Against EUR, the decline occurred in 10 out of the last 13 years for an average fall of 1.1%."