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On Thursday evening Morgan Stanley placed.....>

CABLE
CABLE: On Thursday evening Morgan Stanley placed an order to buy GBP/USD at
$1.2900, with a target of $1.4200 and a stop at $1.2680.
- MS reason that "GBP/USD looks attractive at current levels. Investors have
become overly pessimistic on GBP given Brexit uncertainties, but we maintain
that GBP should rally as the prospect of a Brexit deal improves. A Brexit
resolution would enable the BoE to hike rates more aggressively, raising real
yields and thus GBPUSD. UK economic data continue to improve as seen recently in
strong wage gains and IP data. The key risk to the trade is that Brexit
negotiations become more tenuous, keeping GBP offered."
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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