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Forex Flash: Sterling thoughts as it falls - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that the pound has rallied against both the dollar and the euro since the UK was downgraded by Moody´s and the entire Gilt yield curve is lower as well

He writes, “So much for a negative response - the downgrade was ‘discounted’. But that doesn’t mean it wasn’t important – it sent a clear message that there is virtually no room for fiscal accommodation from the Government, and all help to boost the economy will have to come from monetary policy. That can’t happen without sterling falling.”

Forex Flash: Growth sensitive currencies under downward pressure - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the commodity-linked G10 currencies of the Australian, New Zealand, and Canadian dollars have all underperformed over the last week alongside the Norwegian krone.
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Forex Flash: Euro to remain under downside pressure - BTMU

Lee Hardman of the Bank of Tokyo Mitsubishi UFJ notes that the Euro continues to remain under downward pressure following the inconclusive Italian election results which has resulted in investors adjusting higher Italy’s sovereign credit risk premium.
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