Credit Suisse trade of the week
Currency investors should consider selling GBP/USD this week, advises Credit Suisse in its weekly FX pick to clients.
"Rationale: GBPUSD is becoming increasingly sensitive to data again; as the sharp reaction to last week’s PMIs demonstrated. Our economists now have greater conviction in their view that the UK is headed for a shallow recession, and they already expect Q2 GDP to surprise below consensus this Wednesday.
