GBP rally due to short covering & weak USD story - Rabobank

Jane Foley, FX Strategist at Rabobank attributes the sharp rally in the British Pound seen on Tuesday to short covering and weak USD story. Foley says the market is still very short on Sterling and the other factors like the weakness in the US dollar due to weak US CPI data released on Friday and delay in tax reforms is also fuelling the GBP rally.

Listen the full segment to hear Foley’s take on snap elections in the UK and complacency in the EUR market ahead of Sunday’s French elections.

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