GBP Remains Strongest G10 Currency Since By-Election: SocGen
Societe Generale notes that sterling has held its position as the strongest G10 currency since the Makerfield by-election, supported by a reduced speculative short position.
Analysts at Societe Generale observe that the British pound has retained its status as the best-performing G10 currency in the period following the Makerfield by-election.
The strength is attributed to positioning and flows, with the bank noting that the speculative short position on sterling, while still sizable, has been reduced. This shift in positioning is providing support to the currency.
The firm did not provide specific targets or forecasts, but the assessment underscores the current positive sentiment toward the pound relative to its peers.
Source: FXStreet Forex News