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5 May 2015
Prospects around GBP remains positive – Westpac
FXStreet (Edinburgh) - In the opinion of strategists at Westpac, the perspective for the sterling remains positive despite election woes.
Key Quotes
“Thursday's UK general election looms large, GBP woefully underpricing substantial risks of an inconclusive/market unfriendly outcome”.
“The BoE meets too though radio silence is likely the order of the day around the election”.
“Given the very obvious election risks, we have to be negative here”.
“Medium term momentum failure at the April low launched the break above 1.5150/70 resistance and an impulsive rally towards our interim target at 1.5500 (high 1.5498). Momentum now greatly reduced but positive”.
Key Quotes
“Thursday's UK general election looms large, GBP woefully underpricing substantial risks of an inconclusive/market unfriendly outcome”.
“The BoE meets too though radio silence is likely the order of the day around the election”.
“Given the very obvious election risks, we have to be negative here”.
“Medium term momentum failure at the April low launched the break above 1.5150/70 resistance and an impulsive rally towards our interim target at 1.5500 (high 1.5498). Momentum now greatly reduced but positive”.