Deutsche Bank Ends Long Standing Bearish Stance On UK Pound Sterling

In light of recently called elections in the UK, and after perusing economic forecasts, Deutsche Bank has closed its long-standing bearish bet on the pound sterling, taking out “crash risk” and turning neutral on the British currency. Part of this turnaround is based on the conservative party winning upcoming elections and part of the trade logic is based on economic valuations of the currency’s value relative to the economies in the European Union and the United States, with dollar strength a continued issue and a soft brexit the outcome.   Conservatives are expected to win in UK, and this will…