Global Strategy - FX
The euro looks weak across the board following this month's ECB meeting. We are bearish the euro outright against the Mexican peso in our global asset class strategy, and maintain our long-held bearish stance on EUR versus GBP.
We see significant upside ahead for Asian FX versus developed world currencies (including the euro, excluding the dollar), particularly on a carry-adjusted basis.
Our bullish view on the South African rand has further to go, with promising technicals and hints of reform generating strong momentum for the currency.
|Sterling Steaming Ahead|
|Exchange Rate - GBP/EUR|