1 May 2015
GBP/USD near-term risk titled to the downside – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, believes that the political uncertainty implies that risks for GBP/USD remain tilted to the downside in the near-term.
Key Quotes
“GBP was soft retracing recent strength and entering the NA session (and the UK long weekend) down 0.4%. Data was mixed, but the release of a disappointing manufacturing PMI (falling to 51.9) weighed heavily on GBP.”
“We continue to cling to concerns over the upcoming election and see near‐term GBP risk heavily weighted to the downside.”
Key Quotes
“GBP was soft retracing recent strength and entering the NA session (and the UK long weekend) down 0.4%. Data was mixed, but the release of a disappointing manufacturing PMI (falling to 51.9) weighed heavily on GBP.”
“We continue to cling to concerns over the upcoming election and see near‐term GBP risk heavily weighted to the downside.”