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Oct 15 - 02:55 PM

GBP: Any Dip In GBP Represent A Buying Opportunity - Credit Agricole

By eFXdata  —  Oct 15 - 01:30 PM

Credit Agricole CIB Research likes buying GBP dips, expressing that via holding a long GBP/CHF in its recommendation portfolio.

"We believe that any dip in the GBP should represent a buying opportunity as we expect a Brexit trade deal to come in November at the latest," CACIB notes. 

"We further note that the GBP is looking cheap across the board. Indeed, our short-term fair value models for GBP/USD and GBP/CHF are suggesting that it should be trading above 1.3100 and 1.2000 respectively to be more in line with fundamental drivers like rate and box yield spreads as well as gauges of risk appetite," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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