UK – Brexit pounding

Report Date: 18th October, 2016

We are sticking to our strategic short position for sterling versus the US dollar and revising our target down to 1.125 from 1.20. But we don’t expect the pound to go there in a straight line. A lot of Brexit bad news has been priced in quite suddenly. There could be a pause, even a rally to as high as 1.34 from here.

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Author: Independent Strategy

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