GBP smashed 5% to fresh 31-year low

The GBPUSD has been smashed 5% on the Asia open in suffering its biggest intraday fall since the shock Brexit announcement in June. The GBPUSD fell from 1.2600 to a traded low of circa 1.2000 in extremely volatile trading.

The GBPUSD last plunged to these levels in 1985.

News of what triggered the GBP collapse is scant at the moment.

The NZDGBP has jumped near 0.6000 – my charts only go back to 1983, which is not far enough to see when it was last at this level.

The GBP is trying to bounce and is currently down circa 2.5% on the day.

Current indicative levels are:

NZDUSD 0.7150 / 0.7175
NZDEUR 0.6420 / 0.6455
NZDGBP 0.5760 / 0.5790
NZDJPY 74.30 / 74.55
NZDAUD 0.9440 / 0.9460

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