Heavy month-end buying of the GBP, stops getting triggered below .8730 and further GBP buying supposedly related to the MF Global bankruptcy. Take your pick, or a combination of all 3 succeeded insending the GBP soaring. The two interbank reports that I’ve read so far think that these were one-off events and not the start of any major GBP uptrend.
What is becoming very noticeable is that the amounts being traded in the FX market in recent days is really rocketing.
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