GBP continues to be well supported

July 29, 2015

Strategist Kit Juckes at Societe Generale argued the sterlingremains well supported for the time being.

Key Quotes

“The biggest rate mover yesterday was the front end of the sterling curve, though 'biggest' rather overstates the move!”.

“The GDP data were a mixed bag, details less impressive than the headline, but the pace of rate hikes implied by the front end of the UK curve is slower than in the US and has room to adjust, providing support for sterling as long as we don't talk about the balance of payments, or Brexit”.

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