The market is now a net seller of the British Pound amidst a shift in sentiment. But looking ahead, this could mean it is better positioned to recover, and one Wall Street investment bank is a buyer.
The British Pound extended gains against the Dollar and closed a deficit against the Euro after survey data showed the UK economy outperformed expectations in January.
Buy the British Pound and UK bonds; the pessimism towards the UK is overdone.
Stinking Retail Sales Report Sees Pound Sterling Add to Losses against Euro and Dollar
- Category: GBP
The British Pound fell against the Euro, Dollar and other currencies after the ONS revealed a shock decline in retail sales for December.