GBP going, going, long

Hans Redeker from Morgan Stanley on the value to be had in the GBP right now:

  • "The probability of a hard Brexit has declined,"
  • "We also have to take into account where Sterling is in respect of valuation."

The current valuation is for GBP/USD to be trading in the mid-1.30s, about five to six cents higher than its current level. So, by that reckoning there is 500 points or so of upside. You can read more here.

Buy on the dips for the medium term makes sense now with the hard brexit risk receding.