An analysis of SWIFT data showed that the share of British pounds in international settlements rose to its highest levels in the past six years. In October, it amounted to 7.85%.
At the same time, the share of international settlements in euros decreased to the level of June 2020 – to 34.43%. This was the result of sanctions against Russia, due to which the economic situation in the European Union deteriorated significantly, and the euro began to weaken rapidly.
Analysts at BCS World of Investments believe that concerns about the future of the eurozone countries, which are facing a serious energy crisis on the eve of winter and a long heating season, also affect the situation.