BNP Paribas: pound is going down
Ian Stannard, senior foreign exchange strategist at BNP Paribas in London, said: The massive injection of global liquidity resulting from the quantitative easing (QE) programmes generated a huge asset markets rally, with equity and commodity markets moving higher." Stannard said this drove the currency markets, with commodity and emerging market currencies benefiting in 2009.
But as central banks unwind QE programmes, BNP Paribas believes asset markets and the benefiting currencies will be
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