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May 05 - 10:55 AM

GBP/USD: More In Danger Of Breaking 1.20 Than EUR/USD Of Breaking Parity M-Term - SocGen

By eFXdata  —  May 05 - 10:00 AM
Societe Generale Research maintains a bullish bias on the USD over the coming months.
 
"From here, we like buying the dollar against both Asian and European currencies (the former reeling a bit from China’s very weak Caixin PMI data, the latter from the proposal to ween Europe off Russian in the coming months)," SocGen notes.
 
"Oil-sensitive currencies will be resilient, but another push higher in USD/JPY is likely and in Europe, EUR/USD will probably re-test lows while GBP/USD looks vulnerable...GBP/USD is more in danger of breaking 1.20 than EUR/USD is of breaking parity, in the months ahead," SocGen adds. 
Source:
Société Générale Research/Market Commentary

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