21 Nov 2013
Flash: GBP rises from the ashes - Investec
FXstreet.com (Barcelona) - Making a comparison with the inherent ‘sledging’ attributed to cricket and the start of the Ashes, Jonathan Pryor, Corporate Treasury Analyst at Investec notes that similar bad mouthing can have a different effect in the currency markets.
Key Quotes
“A lot has been said, particularly by the Australians, in the build up to the series but it strikes the dealing desk that the Aussies are being somewhat hopeful that their ‘sledging’ will have a detrimental effect on the English. While hope is a valuable attribute, in the currency markets it can cause distress!”
“Many clients looking to buy GBP have been hoping to see the pound weaken to secure favourable dealing levels, however following a raft of positive economic data and the prospect of rate hikes in 2015, the pound has strengthened across the board.”
“Most notable crosses include GBP/USD above 1.6000 and GBP/EUR testing 1.2000. If you are looking to buy GBP in the coming weeks, speak to the dealing desk today to discuss the outlook and target levels.”
Key Quotes
“A lot has been said, particularly by the Australians, in the build up to the series but it strikes the dealing desk that the Aussies are being somewhat hopeful that their ‘sledging’ will have a detrimental effect on the English. While hope is a valuable attribute, in the currency markets it can cause distress!”
“Many clients looking to buy GBP have been hoping to see the pound weaken to secure favourable dealing levels, however following a raft of positive economic data and the prospect of rate hikes in 2015, the pound has strengthened across the board.”
“Most notable crosses include GBP/USD above 1.6000 and GBP/EUR testing 1.2000. If you are looking to buy GBP in the coming weeks, speak to the dealing desk today to discuss the outlook and target levels.”