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Deal at EU Summit to allow short-squeeze in GBP – BNPP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Research Team at BNP Paribas, suggests that a key focus today in Europe will be the outcome of the EU Leaders’ Summit on Friday.

    Key Quotes

    “A deal for the UK is widely anticipated, with most officials expressing optimism at the start of the meetings on Thursday. In terms of timing, following negotiations overnight with concluded in the early hours of the morning, leaders meet for a breakfast for further discussions. The summit is expected to conclude early this afternoon, opening the way for PM Cameron to be announced the date of the referendum over the coming days.

    A important litmus test for the deal will be the UK press reports over the weekend and the subsequent polls. We view that the proposed deal will allow EURGBP to unwind some of the Brexit risk premium that has been recently been priced into the cross.”
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