Forex Flash: GBP/USD remains biased to the upside - Scotiabank
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GBP/USD
FXstreet.com (Barcelona) - The sterling has quickly left behind the psychological mark at 1.6000 on Friday, following its European peer and propped up by increasing risk sentiment. The cross has climbed as high as the vicinity of 1.6050, although easing some ground afterwards.
"Near term movement will continue to be impacted by external factors, given Monday's dead-line for a decision on Greece, although market participants are also likely to react in the event of a revision to Q3 GDP data when the second of the three readings is released on Tuesday. Our outlook for GBP remains biased toward strength vs. the USD, with a year end target of 1.62, supported by relative monetary policy and the UK's AAA rating", said Eric Theoret, Currency Strategist at Scotiabank.
"Near term movement will continue to be impacted by external factors, given Monday's dead-line for a decision on Greece, although market participants are also likely to react in the event of a revision to Q3 GDP data when the second of the three readings is released on Tuesday. Our outlook for GBP remains biased toward strength vs. the USD, with a year end target of 1.62, supported by relative monetary policy and the UK's AAA rating", said Eric Theoret, Currency Strategist at Scotiabank.
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