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Short GBP/USD up until the Scottish referendum - Nomura

FXStreet (Bali) - Nomura FX Strategists published a weekend report on how to trade the Scottish Referendum, recommending to keep shorting the Pound up until the referendum.

Key Quotes

"The publication of the September You-Gov poll focused markets on the risks around a tighter referendum outcome than previously expected. We have published several notes over recent months about the risks. In this short note we update our views on how to hedge and trade a further narrowing of the polls into the 18th of September. "

"Short GBP/USD up until the referendum, reduce your position and enter fresh longs before polling booths open in anticipation of a NO vote. Where potentially owning out the money GBP/USD put options as a hedge for the result makes sense to us as well in a worst case scenario as a YES vote could see a 5-10% swing in GBP in the days following."

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