Barclays Adds To Its 3 Weeks Old Short EUR/GBP Position

From efxnews.com

FX strategists at Barclays Capital are still betting on more EUR loses vs. GBP in the near term as the comparative analysis between the macro-fundamentals in Europe and in the UK is clearly favoring the latter. On one hand, Europe is suffering from a political crisis in Greece and from the lack of market confidence in Spain, while on the other hand the status of the GBP continues to rise as a safe heaven currency in Europe, they explain. Meanwhile, they expect the BoE to be less accommodative than the ECB in the coming months giving the sticky inflation conditions in the UK. Based on that, they added another short ... (full story)