2024-05-21 Pound Sterling News
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2024-05-20
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
By looking at the data set provided, the overall trend of the GBP exchange rate seems to be a gradual increase over time. The rate starts from about 1.72861 and ends at 1.73354 over the course of a single day of trading. There is a slight dip during the middle of the timeframe but it quickly recovers. This increasing trend indicates that the pound sterling has slightly strengthened against the foreign currency conversion represented in this data set.
Seasonality and Recurring Patterns
As for seasonality, it's hard to determine any seasonality or recurring patterns based on this daily data. Seasonality in exchange rates would typically be seen over longer periods of time such as quarterly or yearly patterns. On this one-day timeframe, the exchange rate shows natural intraday volatility - periodic fluctuations throughout the day's trading session, but no clear recurring pattern is visible.
Outliers Identification
On the subject of outliers, the data seems relatively consistent with its changes, with no radical spikes or drops within this single day's worth of data. The changes seem gradual and systematic without any drastic deviations. However, a more detailed or technical analysis may be needed to conclusively identify any potential outliers. This includes the application of statistical measures like standard deviations which are not mentioned as required in the problem statement.
To conclude, the GBP exchange rate over this day has shown a slight overall rise with typical intraday volatility but no clear sign of any outliers.
![Unmistakable Rise in GBP Exchange Rate shakes Financial Market](http://currencymart.net/images/news/pound-sterling/2024-05-21/img-HECXPGHLjvic8sFAuXtJmSuU.webp)