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16 Aug 2013
Flash: Front end Sterling bids – Societe Generale
FXstreet.com (Barcelona) - Kit Juckes Global Head of Currency Strategy at Societe Generale eyes bids for front end Sterling.
Key Quotes:
"Euro area CPI and trade, US U-Mich consumer confidence and housing starts are the highlights”.
"The Sterling money market has dramatically over-reacted to recent data, but I see more reason to be long GBP/CHF, GBP/JPY and GBP/USD, than clarity about where to buy the front end of the sterling market”.
"The umber of people who tell me that they want to receive 1yr/1yr GBP, or buy short-dated gilts, or buy short sterling futures, is huge”.
"They will be right, but whether the ones who have already bought will be right before they are stopped out, is another matter altogether. I'd rather receive 1yr/1yr (or 2yr/2yr) Euros vs. USD for now”.
Key Quotes:
"Euro area CPI and trade, US U-Mich consumer confidence and housing starts are the highlights”.
"The Sterling money market has dramatically over-reacted to recent data, but I see more reason to be long GBP/CHF, GBP/JPY and GBP/USD, than clarity about where to buy the front end of the sterling market”.
"The umber of people who tell me that they want to receive 1yr/1yr GBP, or buy short-dated gilts, or buy short sterling futures, is huge”.
"They will be right, but whether the ones who have already bought will be right before they are stopped out, is another matter altogether. I'd rather receive 1yr/1yr (or 2yr/2yr) Euros vs. USD for now”.