GBP: The only major currency to have lost ground to the dollar - BBH

Analysts at BBH note that sterling is the only major currency to have lost ground to the dollar this week, at close to $1.30, it is off 0.75% on the week, which surrenders half of the gains from the previous week.  

Key Quotes

“Since the beginning of May, sterling has alternated between weekly gains and losses against the dollar without fail.  However, no such pattern is evident in euro-sterling cross.  Since the start of May, the euro has gained about 6% against sterling.  In the 11 weeks that sterling has been alternating against the dollar, it has fallen against the euro in all but three weeks.  The euro extended its recent gains to approach GBP0.9000, its highest level since last November.”