The euro has been doing quite well versus the pound, having appreciated from under 78 to the current level of 83. We do have PM Cameron scheduled to make a speech on Friday regarding the future of British participation in the EU. If the EU membership were put to a vote in Britain how would that vote go?
Markets appear to be moving at the whim of political statements. We would be inclined to be a seller of the EURGBP but are wary of the content and market reaction to the PM’s Friday speech.
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