In a day of little action on Thursday, sterling retreated slightly from a risk-driven US dollar and otherwise remained flat.

A Brexit meeting scheduled today between the UK and EU has been cancelled. This month is looking critical for the pound, as by the end it ought to be clear whether Britain will be walking away with a trade deal or not.

Implied volatility levels are higher than that of other major currencies, which suggests investor concern over where the pound may end up in a couple of months.

There is no economic data to end the week.

GBPUSD opened at 1.2521 and closed at 1.2465

GBPEUR opened at 1.1081 and closed at 1.1095

The US dollar was yesterday supported in afternoon trading by safe-haven investment flows, following a resurgence of virus cases in the US that dampened risk appetite.

Non-farm data on Thursday was largely positive, with the economy adding more jobs than expected. However, reaction has been muted amid the fresh pandemic worries.

Today is Independence Day bank holiday in the US.

The euro was unmoved yesterday in a quiet session for the single currency, only giving ground to the US dollar in afternoon trading. This was solely in response to risk appetite.

Amid a relatively positive week for the zone, with PMI data surprising on the upside, the euro has largely held firm, without making waves.

There is a lack of output today.

EURUSD opened at 1.13 and closed at 1.1235