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12 Feb 2014
Flash: Go Long GBP/CHF before BoE - Nomura
FXStreet (Barcelona) - Yujiro Goto and Jens Nordvig. Nomura FX Strategists recommend going long GBP/CHF before todays BoE Inflation report.
Key Quotes
“We have been trading GBP from long side for the past several months, and we have EUR/GBP short exposures in our recommended portfolio in the form of put spreads. We have been more cautious on spot exposure, and have been flat there since 13 Jan 2014.”
“The consensus long GBP story has suffered from a positioning squeeze over the recent risk off episodes. Still, the GBP has substantial room to appreciate, in our opinion. We recommend buying GBP/CHF into Inflation Report on Wednesday.”
“We believe the GBP/CHF offers attractive levels especially after the negative Swiss news over the weekend.”
Key Quotes
“We have been trading GBP from long side for the past several months, and we have EUR/GBP short exposures in our recommended portfolio in the form of put spreads. We have been more cautious on spot exposure, and have been flat there since 13 Jan 2014.”
“The consensus long GBP story has suffered from a positioning squeeze over the recent risk off episodes. Still, the GBP has substantial room to appreciate, in our opinion. We recommend buying GBP/CHF into Inflation Report on Wednesday.”
“We believe the GBP/CHF offers attractive levels especially after the negative Swiss news over the weekend.”