Negative flows weaken sterling
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Safe haven flows have supported sterling, but, says Hans Redeker (pictured), currency strategist at BNP Paribas in London, the currency should be trading lower
Sterling has been trading in stable terms against most currencies, leaving the trade-weighted sterling index within very tight ranges. But sterling has started to develop some signs of weakness on the crosses, and in E/£ terms a sell signal has been triggered by our technical trading model.
It is not only that the technical position of
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