GBP volatility gauge hits highest since June 15

GBP/USD one-month ATM volatility, which measures the calculated or implied mid-rate volatility for an at-the-money (ATM) option, has jumped to a three-month of 10.25%, according to data source Reuters. 

The volatility gauge has seen a notable rise from 8% to 10.25% this week with renewed Brexit concerns and a decline in Sterling. 

The GBP/USD pair is currently trading near 1.2960, having dropped by 1.36% to 1.2980 on Tuesday. The British currency has shed 2.38% this week.