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19 Feb 2014
Flash: Remaining long on Sterling - BAML
FXStreet (Guatemala) - Myria Kyriacou , FX Strategist at Bank of America Merrill Lynch explained that they are overall bullish on Sterling.
Key Quotes:
"Long GBP has been one of our high conviction calls this year. The currency performed very well in 2013, appreciating 1.7% on a trade-weighted basis, and has continued to perform well so far in 2014."
"While positioning is not stretched, CFTC data shows speculators continue to remain long GBP and DTCC data shows that short-dated option volumes in GBP/USD have tripled in anticipation of GBP positive, M&A fuelled, order flow. We remain positive on GBP."
Key Quotes:
"Long GBP has been one of our high conviction calls this year. The currency performed very well in 2013, appreciating 1.7% on a trade-weighted basis, and has continued to perform well so far in 2014."
"While positioning is not stretched, CFTC data shows speculators continue to remain long GBP and DTCC data shows that short-dated option volumes in GBP/USD have tripled in anticipation of GBP positive, M&A fuelled, order flow. We remain positive on GBP."