Citi have put out a trade idea to sell........>

FOREX: Citi have put out a trade idea to sell GBPNOK at 10.7550, target 10.5500

and stop at 10.8750. They see two factors that mean GBP should struggle to rally

this week.

1. No deal noise: On Thursday the UK government expected to publish "no deal"

advice alongside a speech from UK Brexit Secretary Raab in Westminster. Given

the topic, this is likely to be viewed at best as neutral, softening the blow

for the harshest Brexit scenario, and at worst negative for GBP, perhaps viewed

by the market as a signal that "no deal" has a growing probability.

2. Leave campaign noise may rise: UK press are reporting two of the highest

profile domestic proponents of the Leave decision, Nigel Farage and Boris

Johnson, may be increasing their campaigning soon. The BBC report Farage is set

to go "on the road" to campaign against PM May's current Brexit plans and there

have been media indications that Johnson is being urged by allies to lead

another pro-Brexit nationwide bus tour.