By eFXdata — Feb 02 - 08:30 AM
Societe Generale Research likes short GBP/USD exposure around current levels.
"Sterling’s only support is the depth of the negativity surrounding it,. Yesterday we asked whether this would prove to be a good time to look for a correction in the weaker dollar trend, citing over-stretched corporate bond moves inter alia," SocGen notes.
"The post-Fed move looks overdone in risk assets, too. But as was the case yesterday, GBP is a better short, than the EUR, vs either USD or AUD," SocGen adds.
Source:
Société Générale Research/Market Commentary