EUR/GBP Parity Not an "Excessive" Call -- Market Talk
06 7월 2016 - 1:29AM
Dow Jones News
1600 GMT--There is "no respite in prospect" for sterling. After
EUR/GBP easily broke above 0.85, parity "does not seem all that
excessive a call any more", says Audrey Childe-Freeman, founder and
chief strategist at FX Knowledge. EUR/GBP hit a near three-year
high of 0.8550 on Tuesday, while it will "only be a matter of time"
before GBP/USD breaks below $1.30, leaving it targeting $1.25.
GBP/USD fell to a 31-year low. The falls follow Standard Life,
Aviva and now M&G announcing they were suspending trading in
commercial property funds as investors pulled out. A weakening U.K.
housing sector "usually comes hand in hand with GBP weakness," she
says. "The broad U.K. housing sector outlook ... has turned bleak
post-Brexit and this may have significant implications for the U.K.
macro-economic context." (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
July 05, 2016 12:14 ET (16:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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