Long-Term investors buyers below 1.20 on GBP/USD says BNPP

Market news

23 January 2017

Long-Term investors buyers below 1.20 on GBP/USD says BNPP

"The GBP will remain in focus heading into the ruling on Brexit from the Supreme Court, expected on Monday.

The government is generally not expected to win this appeal, but we think the significance of this ruling has diminished since last month's parliamentary resolution supporting the Q1 timeline for Article 50.

We continue to believe the GBP is trading near levels reflecting a worst-case scenario for trade and capital flows, and therefore expect long-term-oriented investors to be buyers below GBPUSD 1.20".

Positive start of trading expected on the major stock exchanges in Europe: DAX + 0.2%, CAC40 + 0.1%, FTSE + 0.1%

The index of business activity in all sectors of the Japanese economy increased in November by 0.3%

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