10 Jan 2014
Flash: GBP/USD to hit parity before double dollar - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale believes that GBP has a prospect of hitting parity with the dollar in coming years.
Key Quotes
"GBP/USD. I don't know exactly which day this trade should be put on, but the contrast between the UK and US balance of payments trends highlights how much less lop-sided the US recovery is than the UK's."
"We've had a lovely run on the back of foreigners bringing their money to spend in the UK (despite our jingoistic press) but it's nearly over. Soon after I started staring at the FX market for a living, GBP/USD almost went through 1. Since then it has been through 2 a couple of times. It's more likely to see parity again than revisit 2 in the next 5 years."
Key Quotes
"GBP/USD. I don't know exactly which day this trade should be put on, but the contrast between the UK and US balance of payments trends highlights how much less lop-sided the US recovery is than the UK's."
"We've had a lovely run on the back of foreigners bringing their money to spend in the UK (despite our jingoistic press) but it's nearly over. Soon after I started staring at the FX market for a living, GBP/USD almost went through 1. Since then it has been through 2 a couple of times. It's more likely to see parity again than revisit 2 in the next 5 years."