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UBS have recommended entering a.......>

EURO-STERLING
EURO-STERLING: UBS have recommended entering a long EUR/GBP position at
GBP0.8800, with a stop at GBP0.8650 and a target of GBP0.9100.
- UBS expects that the "Brexit back and forth will keep GBP under pressure." UBS
also look for "disappointment for the markets from the Bank of England next
month as UK economic activity is not collapsing but lacks the muscle to trigger
a hike in August."
- On the EUR front UBS believe that the "European Central Bank continues to
manage market expectations on rates & so there is less scope for the euro to
surprise to the downside"
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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