GBP bullish but for how long ahead of EU referendum? - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Scotiabank explained that GBP is up on the back of as-expected Q4 GDP data (0.5% q/q, 1.9% y/y), with gains suggesting relief and positioning that had been biased to disappointment.

    Key Quotes:

    "GBP has shown signs of stabilization over the past week with a near-2% rise off last Thursday’s multiyear low. Near term stabilization may continue as market participants reassess the balance of risks to relative central bank policy following Wednesday’s Fed.

    The medium-term outlook remains bearish as we look to Brexit risks presented by the looming mid-year referendum."
    For more information, read our latest forex news.

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