MUFG wary of a falling GBP, citing excessive long positioningIn summary from MUFG, saying GBP could weaken further. Citing:
- long positioning is still excessive
- global risk aversion
- expectations of further UK interest rate cuts being further priced in
EUR/GBP update, back into the early 2024 range:
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: MUFG wary of a falling GBP, citing excessive long positioning (https://www.forexlive.com/news/mufg-wary-of-a-falling-gbp-citing-excessive-long-positioning-20240805/)
forexlive.com