GBP: The Good News Is Almost All In For Sterling – SocGen

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What is the outlook for GBP in the near-term?

Here is their view, courtesy of eFXdata:

Societe Generale Research discusses GBP outlook and warns that Sterling is inching closer to its peak in the near-term.

“When we talk with clients and colleagues, it is clear there is still interest in and demand for sterling. However, we fear that almost all the good news is priced in, for now. Brexit is achieved, and it could have gone worse than it did. Negative rates appear to have been avoided,” SocGen notes.

“And a rapid vaccine rollout means the British will be able to go on staycations this year, but even that simply highlights the fact that COVID restrictions won’t vanish completely for anyone until they do so for everyone (or nearly everyone, anyway),” SocGen adds.

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Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.