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7 Jan 2015
GBP/USD: Sell-off overdone - ANZ
FXStreet (Bali) - According to ANZ FX Strategists, Cable’s plunge in early 2015 looks overdone with the pound caught up in the disinflation theme.
Key Quotes
"Cable’s plunge in early 2015 looks overdone as the pound is caught up in the disinflation theme. Further near term weakness may materialise but dips below 1.50 are a medium term buy."
"Most observations of valuation suggest the pound is undervalued against the USD. The economy has lost some momentum, but continues to perform favourably versus most of its peers."
Key Quotes
"Cable’s plunge in early 2015 looks overdone as the pound is caught up in the disinflation theme. Further near term weakness may materialise but dips below 1.50 are a medium term buy."
"Most observations of valuation suggest the pound is undervalued against the USD. The economy has lost some momentum, but continues to perform favourably versus most of its peers."