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Pound a Buy Against Euro: Westpac
Strategists at Westpac look for the Euro to fall further against the British Pound. According to a new strategy note from the bank, it remains prudent to position for further declines in the Euro-Pound exchange rate as the pair looks intent on respecting a well-understood range and fundamental developments align in Sterling's favour. "We maintain our EUR/GBP short," says a note detailing the strategy that looked to sell the exchange rate at 0.8698. (A Pound to Euro equivalent of buying at approximately 1.15). Notably, this level forms the topside of a well-formed range in EUR/GBP that has been in place since May: ... (full story)