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Nordea Go Short EUR/GBP

EURGBP

Nordea note that "GBP optimism continues due to a successful COVID vaccine roll-out as:

  • 1)The UK emergency approved vaccines early.
  • 2)Had a much smarter wording of contracts with suppliers than the EU.
  • 3)Is the only country to decide on a de facto 1-jab (or a slow 2-jab) regime of the vaccine, which has proven to be the best approach.
  • All in all, flows have started to return to the UK. We bet they will keep doing so. It may sound like we are late to the party, but we add short EUR/GBP with a target of GBP0.8345 (stop loss at GBP0.8812) to our tactical portfolio."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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