Sterling battered on Brexit and doing worse than the greenback in H1 - Socgen
|Kit Juckes, analyst at Societe Generale noted that the UK press is full of violence (at football matches) and EU debates, against a background of 'Leave' taking the lead in a number of polls and sterling tumbling on Friday evening.
Key Quotes:
"CFTC data show speculators piling into short sterling positons on the IMM in the week up to last Tuesday (all onside now so someone's happy) and the pound's finding it pretty easy to live up to its billing as the only G10- currency to do worse than the dollar so far in H1.
Indeed, the only major currency to have done worse than the pound so far this yar is the Mexican Peso and it shares with sterling a vulnerability to Little-Englander politics."
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