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14 May 2014
GBP/USD reached a top? - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, sees the GBP/USD might have hit a top recently.
Key Quotes
"GBP/USD is close to a top, but my original timing on this call was awful. Indeed the rates market is likely to price in a full 25bp hike for this side of the end of 2014 before long."
"Selling December short sterling may not be such a bad idea! EUR/GBP too, is a sell having broken free."
"This is a good tactical way to trade the excitement in the FX market about the June ECB meeting. And finally, I wish that I had suggested going long FTSE instead of short GBP/USD."
"In part because the FTSE has rallied, in part because a weaker pound would have helped an index with so many constituents in it who earn foreign currency. All in all, hopeless!"
Key Quotes
"GBP/USD is close to a top, but my original timing on this call was awful. Indeed the rates market is likely to price in a full 25bp hike for this side of the end of 2014 before long."
"Selling December short sterling may not be such a bad idea! EUR/GBP too, is a sell having broken free."
"This is a good tactical way to trade the excitement in the FX market about the June ECB meeting. And finally, I wish that I had suggested going long FTSE instead of short GBP/USD."
"In part because the FTSE has rallied, in part because a weaker pound would have helped an index with so many constituents in it who earn foreign currency. All in all, hopeless!"