Negative Pound Week on Budget Deficit

The pound had a negative week versus the U.S. dollar as the U.K. posted its worst deficit figures since the measurement start, decreasing attractiveness for the British currency which performed positively in the previous week.

A combination of downtrends in European stocks towards the end of this week and a U.K. deficit report who showed the worst figures since 1993, when they were officially initiated, forced the pound down versus the U.S. dollar, the Japanese yen and the European common currency.

GBP/USD closed at 1.6495 this Friday from levels as high as 1.6872 during the week.