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Forex Flash: GBP downside risks increasing - Wells Fargo

Nick Bennenbroek, Head of Currency Strategy at Wells Fargo comments that his outlook for the pound has turned mildly negative, with downside risks increasing.

He comments that the economy returned to contraction in Q4, and confidence surveys remain consistent with only slow positive growth. He writes, “Elevated inflation is keeping the Bank of England on hold, but the Bank of England has indicated it is willing to ease further if needed, while balanced FX positions offer plenty of room for sterling to decline.”

Forex Flash: Sterling has been pummeled - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman states very clearly, “Sterling is perhaps the most interesting among the dogs. It has been pummeled.”
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Forex Flash: Euro strength differs from general market sentiment - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the Euro has remained strong, even as the Yen and other currencies fell. However, it has still been trending lower since the start of the month and while he felt that the 1.3400 level would hold, it has not. Moreover, it appears that additional near term losses are likely.
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