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Aug 13 - 01:24 PM
GBP: No Respite In Sight; Fade Any Strength N-Term - ING
First appeared on eFXplus on Aug 13 - 11:30 AM

ING Research discusses GBP outlook and maintains a sell-on-rally strategy.

"We view any days of GBP strength as a fade (such as yesterday) and see more sterling weakness ahead as we get closer to potential early elections , a road to which will still be very tricky and characterised by hard Brexit risk," ING notes.

"Although the speculative community is fairly short GBP (35% of open interest vs USD), above 40% levels are still achievable (as was the case in 2017) given the nature of the possible future shock," ING adds. 

Source:
ING Research/Market Commentary

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