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May 12 - 02:55 PM

USD: Looking To Fade Dips; GBP: Sidelined Here - Credit Suisse

By eFXdata  —  May 12 - 01:30 PM

Credit Suisse summarizes its tactical bias on USD and GBP in the near-term.

"USD - Still looking to play the USD from the long side but hoping to fade dips rather than chase momentum. Still feels like a set up best played flexibly rather than just holding a core position," CS notes. 

"GBP – Yesterdays relief rally (1.2400 & .8525) proved short lived and as equities crumbled the GBP displayed its high risk-beta. Still finds it hard to jump on the short GBP train at current levels but equally would not pick a fight with the momentum and more GBP weakness seems the likely path," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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