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Dec 09 - 02:55 PM

GBP: Still Expecting A Brexit Deal; GBP/CHF A Buy Here For A Move Towards 1.2680 - Credit Agricole

By eFXdata  —  Dec 09 - 01:00 PM

Credit Agricole CIB Research likes long GBP/CHF exposure around current levels targeting a move towards 1.2680.

"Our central case remains that a ‘bare-bones’ free trade agreement (FTA) will be reached between the UK and the EU before the end of the Brexit transition period on 31 December," CACIB notes., 

"At present, GBP/CHF is looking very undervalued relative to a longterm fair value of 1.3000, which assumes a trade deal between the UK and the EU. We further note that current levels in GBP/CHF offer attractive levels for market longs given that FX spot is trading below its short-term fair value of 1.2050," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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