Short Gbp/usd

Short Gbp/usd


Quotes from RBS:
-While this trade seems beholden to the next ECB policy response short-term, we remain of the view that GBP is set for a period of under-performance. First, we believe that there is a risk that the BoE cuts the policy rate sooner rather than later.
-Secondly, we believe playing GBP's periphery crisis "smile", where the currency is vulnerable to being caught up in the Euro area's problems, still offers decent risk/reward.
-Finally, the £50bn expansion in the BoE's asset purchase programme announced in July is still expected to knock just over an additional cent off GBP/USD fair value in the coming months



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