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TD note that "Sterling's fundamentals......>

STERLING
STERLING: TD note that "Sterling's fundamentals have deteriorated but quite a
bit of bad news is now in the price." While they expect cable to remain under
pressure ahead of the MPC, they note that their "base case suggests a
significant chance of a short squeeze. A further dovish shift from here would
keep sterling in the market's cross-hairs, but we think rotating into GBPJPY
shorts may have greater potential for GBP bears."
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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