Is GBP/USD a sell at current levels? Deutsche Bank thinks so, while Credit Agricole is advising against as they keep buying it on dips. The following are their related macro views and outlooks: DB: We’re not convinced recent UK house price rises will mean a stronger pound. The recovery has taken place almost exclusively in London and its south eastern commuter belt. In the rest of the country nominal house prices are only just rising and in some regions falling in real and nominal terms. Turning to flows, last week’s current account numbers underlined the UK’s very weak balance of payments dynamics. The Q1 deficit ... (full story)