18 Nov 2015
Positioning for GBP strength vs Antipodean currencies - BNP
FXStreet (Bali) - BNP FX Strategists favour positioning for GBP strength into year-end vs AUD and NZD.
Key Quotes
"October core UK inflation surprised slightly to the upside, accelerating to 1.1% from 1.0% y/y, above 0.1pp market consensus, while headline CPI remained steady at -0.1% y/y, in line with expectations. This should be slightly bullish GBP at the margin, but with EURGBP trading close to our 0.70 year-end target, we favour positioning for GBP strength into year-end vs AUD and NZD."
Key Quotes
"October core UK inflation surprised slightly to the upside, accelerating to 1.1% from 1.0% y/y, above 0.1pp market consensus, while headline CPI remained steady at -0.1% y/y, in line with expectations. This should be slightly bullish GBP at the margin, but with EURGBP trading close to our 0.70 year-end target, we favour positioning for GBP strength into year-end vs AUD and NZD."