Sleepy sterling trades narrow range

MARKET NEWS

Last week was quiet for sterling, says Robert Howard, FX analyst at IFR Forexwatch in London.

Sterling/dollar traded within a narrow 110 pip range from Monday through Friday morning in Europe, with the calm tone highlighted by the fact that 1-month implied option volatility traded at an eight-year low of 5.3% on Thursday.

Cable received some early-week support from a Guardian newspaper article which touted US firm Best Buy as a potential suitor for UK retailer Kingfisher's electrical chains,

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