Richard Franulovich, Strategist at Westpac, regards upticks in the European cross towards the 0.77/0.78 area as selling opportunities.
Key Quotes
“No change in the GBP view – Brexit risk is overdone and a strong bias to sell EUR/GBP into 0.77/0.78”.
“UK polls are a poor guide to the national mood if polling for the last general election and Scottish independence are anything to go by”.
“PM Cameron should emerge from EU membership renegotiations with a strong hand, helping tip the case in favour of continued membership”.
“UK rates markets have gone too far, now leaning toward small odds of a base rate cut by year’s end (40%)”.
(Market News Provided by FXstreet)