Currency investors should consider selling GBP/NZD this week, advises CitiFX Strategy Research in its weekly pick.
“GBP may be vulnerable approaching the MPC meeting….Citi Economics expect just two dissents and more confidence among the core members that the slowdown they anticipated justifies keeping rates on hold in the face of stronger inflation prints.
NZD sensitivity to even weak positive catalysts may be heightened given market positioning…This may leave some investors poorly positioned for more positive news flow,” Citi says as a rationale behind this call.
Source: Citi Research
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