2 Sep 2013
Flash: GBP/CHF ready for more upside - UBS
FXstreet.com (Córdoba) - The UBS analyst team commented on the GBP/CHF and its bullish perspective as economic differential grows.
Key Quotes
“In August we opened a GBPCHF position with the rational that the UK economy is stronger than market participants think and that investors worry too much about the Bank of England's forward guidance”.
“For Europe, on the other hand, the enthusiasm about the economic recovery has carried investors away. Monday's PMI releases for Europe and Switzerland was a reality check with no surprises, while the UK PMI accelerated strongly”.
“GBPCHF gained almost 1% on the news and we think it is ready for more”.
Key Quotes
“In August we opened a GBPCHF position with the rational that the UK economy is stronger than market participants think and that investors worry too much about the Bank of England's forward guidance”.
“For Europe, on the other hand, the enthusiasm about the economic recovery has carried investors away. Monday's PMI releases for Europe and Switzerland was a reality check with no surprises, while the UK PMI accelerated strongly”.
“GBPCHF gained almost 1% on the news and we think it is ready for more”.