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Trading news
27 Apr 2015
GBP/USD remains a sell into UK election uncertainty – SG
FXStreet (Barcelona) - Kit Juckes of Societe Generale, comments on the market pricing for UK rate hike and further sees GBP shorts as attractive into the UK election uncertainty.
Key Quotes
“Fed Fund futures may still be rallying, but short sterling ones aren't. The sterling market prices a slower pace of rate hike than the dollar one, and any good news can see that accelerate.”
“There's a case for being short of short sterling futures, at the same time as selling GBP/USD up here, on ongoing election uncertainty (where polls aren't changing and the prospect of a very messy coalition still looms large). Otherwise, stick with longs in SEK and NOK vs EUR and CHF.”
Key Quotes
“Fed Fund futures may still be rallying, but short sterling ones aren't. The sterling market prices a slower pace of rate hike than the dollar one, and any good news can see that accelerate.”
“There's a case for being short of short sterling futures, at the same time as selling GBP/USD up here, on ongoing election uncertainty (where polls aren't changing and the prospect of a very messy coalition still looms large). Otherwise, stick with longs in SEK and NOK vs EUR and CHF.”