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Hey! This is Philip with with an update on the GBP and EUR currencies with a note from the FX research team at Societe Generale
Uncertainty remains high on GBP pair as the UK Parliament can't seem to reach a majority on any of the offered options. EURUSD is also likely to stay rangy with both the Euro and the US Dollar out of love from investors. Below is the insight note from Societe Generale as provided on the eFXPlus service.
GBP: Sterling is Untradeable Here; EUR: Make Or Break At 1.1166 - SocGen
"Today sees a significant vote on a cut-down version of the withdrawal agreement in the UK, which surely no-one expects to pass. Uncertainty persists and the clock is running down. We’re going to vote in the EU elections. Sterling is untradeable," SocGen notes.
"Quarter-end looms and we’ll be watching to see if EUR/USD can hold above 1.1166, the level at which this quarter’s range would tie with Q3 1996 for dullest ever… Meanwhile, stay long NOK, AUD, JPY and CHF against EUR and USD,"SocGen adds.
First appeared on eFXplus on Mar 29 - 08:30 AM
This insight is from the eFXplus service which provides daily price-based FX data 24/5 derived from banks and institutions and Thomson Reuters IFR
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