fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Long Gbp/short Jpy  Tue Jun 19, 2012 12:43 pm | |
| Long Gbp/short Jpy Quotes from Societe Generale Cross Asset Research: -GBP is the cheapest of the major currencies on both our mid- and long-term fair value models. It has performed well in 2012, but we continue to like it. The GBP is held back by a soft economy, and the prospect of further monetary policy easing, but that does not offset the valuation positives, and it is a safe haven from the eurozone. -By contrast, the yen remains expensive. With the economy stuck in a deflationary spiral, while its balance of payments suffers structural deterioration, we see continued pressure on the BoJ to cap strength and provide more stimulus. The GBP/JPY should take time to rally while the euro crisis blights Europe, but we like this trade on a 3-12-month horizon. More FOREX-news on pages InstaForex.Com  TELETRADE: Forex Managed Accounts Project  | |
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