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What is the outlook for GBP?

Here is their view, courtesy of eFXdata:

Danske Research sees a scope for GBP outperformance against EUR, CHF, and SEK.

EUR/GBP continues to trade around 0.87.  We think, however, that the GBP weakness is temporary and expect EUR/GBP to move lower eventually, as the UK economy is set to outperform the euro area this year,” Danske notes.

We expect “the potential hikers” like GBP to perform better than ZLB currencies (like EUR, SEK and CHF). We have entered a long GBP/CHF 6M call as a simple trade on this theme,” Danske adds.

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